Sirius has acquired an effective 67% stake in assets held by private Finnish company Sakumpu Exploration Oy (“Sakumpu”).
Sirius acquired its 67% interest for a consideration of A$2 million and can increase this to 80% for a further A$2 million. This money will fund Sakumpu’s exploration program over the next two years, which is being managed by highly successful and award winning explorers Graham Brown (ex-Head of Global Exploration for Anglo American plc), Jim Coppard (ex-Head of Arctic Exploration for Anglo American plc) and Alain Chevalier (ex-Exploration Manager of Europe for Lundin Mining) discoverer of the highly profitable Storliden Cu-Zn mine in the Skellefte mining district, Sweden.