# SRI - Sipa Resources



## Dr Doom (22 December 2006)

Industry Group     Metals & Mining - 151040     
Shares on Issue     238,369,910
Price (previous close in cents)     8.6         Market Cap ($)     20,499,812

Sipa Resources Limited (SRI) is an Australian based exploration and mining company. Sipa's main focus is on preserving and increasing its reserve base through exploration initiatives and joint ventures. It has projects located in WA, NT, NSW and QLD. Sipa has a gold exploration agreement with Newmont (NEM) and various other agreements with listed companies. 

NEWMONT EXPLORATION ALLIANCE: In June 2005, Sipa signed an Australian wide gold exploration alliance with Newmont (NEM). Newmont will fund all exploration until a decision to mine is made. Sipa will have a 20% interest in any discoveries/ developments. Sipa will be the manager during the Generative Stage and the initial manager during Exploration Phases. 

ASHBURTON GOLD PROJECTS (20%): Sipa has a 20% free-carried interest with Newcrest in the Ashburton gold project. During the December 2005 quarter, Newcrest drilled 10 RC holes for 1,578m at the Merlin prospect, located 220 km NW of Mt Olympus. Best drill results include: 70m @ 0.48 g/t from 8m and 13m @ 0.32 g/t from 85m. 

PANORAMA CU-ZN PROJECT (DILUTING TO 40%): Panorama is a Volcanogenic Massive Sulphide (VMS) Province located in the Pilbara granite-greenstone terrain some 120 kilometers southeast of Port Headland. In an agreement with CBH Resources (CBH), CBH must spend $m within 5 years to earn a 60 interest in the project. Total mineral resources at the Kangaroo Caves deposit are 1.7mt @ 0.6% Cu and 9.8% Zn. At the Bernts deposit, total inferred resources are 0.6mt @ 0.3% Cu, 1.7% Pb and 7.8% Zn. 

OTHER PROJECTS: Sipa also has varying interests and agreements in the Coogardie Nickel and Gold Porjects, Ularring Rock Gold Project, Broken Hill Basemetals Project, Thaduna Basemetals and Gold Porject and the Woodline Gold Project. All projects are located in WA.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Sipa starting to hot up the last few days, investors stating to factor in the huge potential of 'the Alliance', and promising projects.


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## camaybay (17 January 2007)

This company has been "dead" since March 05. The chart seems to show some life since Dec 06. Generally when something good should happen, it doesn't    

DYOR


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## Dr Doom (18 January 2007)

This ones in my 'penny dreadful sleeper' category. Apart from having some old high cost mines which could come back to life if/when the gold price appreciates any more, they are also in partnership with Newmont as their defacto Australian exploration arm. Knowing this I thought it was worth a punt at the depressed share price around 5c, very little downside risk. Volume is picking up over the last couple of weeks too. One to watch.


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## camaybay (19 January 2007)

The sp is now 0.11!, 11.30, 917000. Someting must have happened, news to come?   

DYOR


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## camaybay (21 January 2007)

Maybe this chart will work. Possible direction?

DYOR


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## Dr Doom (21 January 2007)

Yes, second wave looking stronger, more sustainable, looking to test 12c again.


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## Uncle Festivus (30 April 2007)

Hi all,
Found this buried in the latest report -  I don't know much about uranium  assays, is this a decent  result? 

DORISVALE URANIUM AND BASEMETALS PROJECT – NT
(Sipa 100% EL Applications and the right to earn 70% in Red River Resources Limited EL Applications)

The Northern Territory Minister for Mines recently granted Sipa consent to negotiate with the Northern Land Council on behalf of the Traditional Aboriginal Owners for the key Red River Resources EL Application that covers the Dorisvale Lead Zinc Prospect where anomalous uranium, peaking at 320 ppm was detected by Ashton Mining over 12 kilometres of strike in the 1980’s.
It is hoped that access to the ground may be obtained for the current field season.


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## camaybay (30 April 2007)

Uncle Festivus,
Thx for the info, sounds promising, chart has improved and will watch with interest SP 0.099. vol 578th other indicators are encouraging.

DYOR


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## Uncle Festivus (8 May 2007)

This one starting to move today as per the potential breakout thread. Could possibly be speculation on NT uranium prospects. Looks like those who know more than us are setting themselves up.
Just looking at market depth this looks to have taken the market by surprise - very few on the sell side & bidders filling quickly.


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## Uncle Festivus (8 May 2007)

Classic insider trading this one, & promptly gets a speeding ticket from the ASX. And the usual response - No, couldn't possibly be aware of any reason the sp took off yesterday BEFORE the ann. Who's complaining, everyones a winner


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## Pommiegranite (28 May 2007)

*Announcement:*

http://www.asx.com.au/asx/statistic...rchByCode&releasedDuringCode=W&issuerCode=MDX

Mindax (MDX) to aquire 70% of SIPA's Ularring Rock Project through to a decision to mine.

Can anyone please tell me why SIPA would agree to this? No sums of money are mentioned? Is this free?

Why do companies do this? eg KAL to Burey?


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## Uncle Festivus (28 May 2007)

Pommiegranite said:


> *Announcement:*
> 
> http://www.asx.com.au/asx/statistic...rchByCode&releasedDuringCode=W&issuerCode=MDX
> 
> ...




Yes it's a bit light on, but I read it as Sipa retaining a 30% interest in return for Mindax joint venture to prove the permits by exploration expenditure, up to decision to mine. I assume that Sipa must think their other various projects are better value, but still want to keep an interest in this one. Sipa's many projects look to be finally gathering some interest, as shown in the share price lately.


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## Pommiegranite (28 May 2007)

Uncle Festivus said:


> Yes it's a bit light on, but I read it as Sipa retaining a 30% interest in return for Mindax joint venture to prove the permits by exploration expenditure, up to decision to mine. I assume that Sipa must think their other various projects are better value, but still want to keep an interest in this one. Sipa's many projects look to be finally gathering some interest, as shown in the share price lately.





and as a further thought...SIPA just did a shareplacement (at a stupendous 10.5c.. i.e 0.5c less than current SP...woohoo)

This added to the fact that they're now offloading 70% interest on Ularring, wouldn't this suggest that they're accumulating dollar$.

The big question is ..."what for?"

What's THE major expense for an explorer which wants to move to the next base...that's right...*they are about to build a mine*!!

The question is which of their many projects is moving forward?


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## Pommiegranite (2 June 2007)

*Here are some facts*



SIPA have recently announced a placement for existing shareholders at 10.5c
The SP is currently fluctuating between 10.5c and 11c
The placement offer expires on 22nd June
IF SIPA want the full allocation to be taken up, the current SP needs to move north to make the placement worthwhile to investors.

Therefore I believe a positive announcment is forthcoming within the next 2 weeks. It make sense doesn't it?

By the way,

There's a new broker report on SIPA on stockresources.com.au

Would appreciate it if anyone could paste some of it on here, or at least give us the gist of it. 

Thanks


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## Uncle Festivus (15 June 2007)

Well we got the good reports right on que, so here's hoping it breaks out past 14c, which has been a resistance level.


> *The Directors of CBH Resources are pleased to announce that RC drilling at the Kangaroo Caves deposit within the Panorama JV by Sipa Resources Limited has intersected high grade zinc mineralization including 20m @ 13.7% Zn and 0.2% Cu and 15m @ 11.6% Zn and 0.3% Cu. These intersections were recorded in the upper part of the deposit and will be further evaluated for open cut potential as additional feed for CBH’s planned Panorama mill.*​


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## Pommiegranite (15 June 2007)

Uncle Festivus said:


> Well we got the good reports right on que, so here's hoping it breaks out past 14c, which has been a resistance level.





Looks good to me...15 already.

Uncle..what do you think the chances are of us getting full allocations on the share offer? I posted my cheque today


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## Uncle Festivus (15 June 2007)

Pommiegranite said:


> Looks good to me...15 already.
> 
> Uncle..what do you think the chances are of us getting full allocations on the share offer? I posted my cheque today




Woo hoo, topped at 16c:dance:. I'm already 'fully exposed' to this one, so can't allocate any more funds, although I'm having second thoughts about it now. If the sp holds till next Friday there's a fair chance that it will be scaled back pro-rata.


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## Uncle Festivus (16 June 2007)

The test now is to see if it holds at previous resistance around 14c.
..........................................................................................


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## Pommiegranite (25 June 2007)

Announcement out:

Entitlement offer over subscribed by $2million....surprise surprise

However, SIPA have decided not to scale back the offer.

How nice of them

More shares in issue=greater dilution=tomorrow fall in SP.

Nice of them to wait until after closing to make the announcement.


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## lioness (4 July 2007)

Expect further announcement due any day on next 11 holes of high grade Zinc, should be enought to break the 17 cent resistance line.


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## Uncle Festivus (12 July 2007)

SIPA Resources (SRI) continues compiling good assay results from infill drilling at its Kangaroo Caves zinc-copper deposit in the West Australian Pilbara. Seven out of nine reverse circulation drilled holes returned decent interceptions. The best returned 13m at 7.6 per cent zinc and 0.8 per cent copper from a depth of 228m. It has given more food for thought for Sipa that Kangaroo Caves will yield enough quality ore to feed a concentrate facility proposed by CBH Resources which controls the broader Panorama Exploration Project containing Kangaroo Caves. Sipa is also awaiting results from drilling at the Jamesons and Breakers prospects.


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## mick2006 (13 July 2007)

Well guys with the recent drop in LME stocks for Zinc/Lead approaching critically low levels.  Zinc now at 16 year lows below 70,000 tonnes and Lead trading at all time price highs.  I have been searching for an undiscovered gem that covers both metals, and I certainly have found a little beauty here in *Sipa Resources (SRI)*

With tight supply starting to drive prices forward, *(both metals spot prices up 3.5% overnight)* SRI looks good.

*Now for a look at Sipa Resources (SRI)*


Shares         297,865,090

Share Price   13.5c

Market Cap   $40 million

Cash           $8.4 million


*Reasons to Buy into the SRI Story*

- Exposure to Zinc/Lead with fundamental for both metals very strong
*- JV's with market heavyweights  Newmont/Newcrest/CBH*
*- Royalty Payments from CBH's upcoming Sulphur Springs Mine($350k on decision to mine and $2 a tonne of ore mined up to $3.7 million)*
- Large Cash Reserves
*- Upcoming Drilling Results (results from 3 prospects within a couple of weeks)
- Upcoming Resource Upgrade (huge upside due to recent exploration success)*
- Free Carried to mine decision on Panorama Exploration Project Targets (CBH)
- Huge exploration upside (will discuss below)
- Already begun re-rating due to upcoming development of Kangaroo Caves Mine (to be treated at Sulphur Springs treatment plant 6km south)
- Very high grade zinc deposit, very robust profit margin
- Strong cashflows once mining begins at Kangaroo Caves/Bernts deposits
*- SRI story very similar to that of SMY/THX (follow the SP benefit to THX once the Copernicus Nickel mine was announced)*


*Now A Closer Look at its Projects*

*Panorama Exploration Project (CBH 60%,SRI 40%)*

The Panorama project contains several JORC classified deposits that will be used as open cut ore feed for the Sulphur Springs treatment plant which will be operational late 2008.

The Panorama Joint Venture covers a mineralized Archean volcanic horizon that extends for 25km south along strike from CBH's planned Panorama base metal mine which is located 160km by road southeast of Port Hedland, in Western Australia's Pilbara region. *The project is regarded as one of the best base metal exploration properties in Australia*, with a number of known base metal occurrences and the demonstrated potential to host large deposits with >30Mt of mineralization.



*Kangaroo Caves*

Jorc current resource of 1.7 mt @ 9.8% zinc and 0.6% copper with lead credits

*Kangaroo Caves has around the same tonnage as that of the Jaguar Mine for JML(although slightly lower grades), and is the subject of a resource upgrade to include the recent high grade exploration hits, and the potential to substantially increase the resource*.

Recent Drilling Results include some spectacular hits

-56m @6.8%zn and 1%cu
- 9m @13.3%zn and 1.9%pb
-15m @11.6%zn and 0.3%cu
-20m @13.7%zn and 0.2%cu
-13m @7.6%zn and 0.8%cu
-6m @12.2%zn and 1.6%cu


*Bernts Prospect*

Jorc Resource of 0.6 mt @ 7.8% zinc 1.7% pb 0.3%

Another mine ready resource to be use as ore feed to the Sulphur Springs treatment plant.


*Also included in the Panorama Exploration Projects are the following very exciting prospects that are in varying stages of exploration*

-Jamesons (drilled awaiting assays)
-Breakers (drilled awaiting assays)
-Anaomaly 45 (drilling commencing in september)
-Man O' War (drilling commencing in september)
-Nambucca (drilling commencing in september)
-Roadmaster (drilling commencing in september)


*ASHBURTON GOLD PROJECTS*

Newcrest Operations Limited (Newcrest) 80% - Sipa 20% carried; including four participation Joint Ventures where Newcrest/Sipa is earning an interest with third parties.

CONCEPT

The Ashburton Gold Province (see figures below) is a relatively newly recognized region of gold mineralisation in which Sipa’s Paraburdoo Gold Project mined the Mount Olympus, Zeus, Peake and Waugh oxide gold deposits between 1998 and 2004, for a total production of about 350,000 ounces of gold.

The Ashburton may be compared to the ‘Carlin Trend’ of Nevada - host to more than 110 million ounces of gold production and resources. This style of mineralisation is characterized by bulk-mineable sediment-hosted gold deposits, with very distinctive types of alteration and trace element signatures, whose location is controlled by combined stratigraphic and structural features.

*Sipa’s judgment is that the Ashburton has a very high potential for discovery of very large gold deposits*. Clearly if anything approaching a similar potential to the Carlin Trend can be realized in the Ashburton, the commanding tenement position enjoyed by Sipa and its Joint Venture partner Newcrest in the district would be highly advantageous.


*Woodline Gold/Base Metals (Newmont 70%/Sipa30%)*

The Woodline Project is located near the southeastern margin of the Yilgarn Block about 150 kilometres southeast of Kalgoorlie in Western Australia. The Project covers a large area of Archaean greenstone belt rocks considered by Sipa to be prospective for typically Archaean large gold and basemetals deposits, like the Golden Mile and the Golden Grove deposits respectively. The Archaean greenstones and the Archaean — Albany Fraser Orogen boundary within Woodline are generally obscured by thin sand deposits There are few indications of historic prospecting activity within the tenement package with very little previous drilling.

Woodline in part sits astride about 70 kilometres of the same northeast trending structural position as AngloGold Ashanti-Independence Group’s Tropicana Project, which is one of the most exciting new greenfields discoveries in Australia in the last decade. Tropicana is situated about 300 kilometres northeast of Woodline, but a more recently announced prospect — Beachcomber — where 4 metres at 45.5g/t gold was intercepted in a similar geological setting, is only about 70 kilometres northeast of Woodline. AngloGold Ashanti took out a large ground holding contiguous to, and to the southwest, of Woodline at about the same time as the Independence Group’s announcement of Beachcomber. Tropicana and Beachcomber are both situated on, or close to, the boundary between Archaean-aged rocks and the Proterozoic Albany-Fraser Orogen.

Highlights of the Farm-in and Joint Venture

Newmont will reimburse about $500,000 of Sipa’s exploration expenditure incurred up to December 2006 
Newmont may earn a 70% interest in Sipa’s tenements and a 51% interest in each of the Comet and Image tenement blocks by exploration expenditure of a further $4 million
During the initial period of 18 months Newmont will spend $1 million. In order to remain in the Farm-in and to progress beyond the initial 18 months Newmont will also subscribe for $450,000 worth of Sipa shares, at a 10% premium to market. If the initial period of expenditure is extended, Newmont will continue to subscribe annually for a further $450,000 worth of Sipa shares at a 5% premium to market to remain in the Farm-in
Upon the $4 million expenditure being completed, a 30% Sipa — 70% Newmont Joint Venture will be formed and Sipa will then be free carried to commencement of a Bankable Feasibility Study (Discovery JV)
Sipa will be then be carried by Newmont through to production in the Discovery JV by way of loans which will be paid back out of 80% of positive cashflow to Sipa from its share of production, whilst continuing being free carried for exploration outside the Discovery JV
At Decision to Mine Sipa may elect to participate, or sell its 30% share to Newmont
After 3 years, Sipa may elect to sole-risk non-precious metals exploration within the Project
Sipa technical personnel will be seconded to the Project, including Chief Geologist Leigh Bettenay who will be Project Manager
Exploration Completed and Planned by Sipa

Geological mapping and regional and detailed soil sampling by Sipa over the last year has discovered significant outcropping gold mineralisation, with assays as high as 7 g/t gold, associated with shear zones at several localities within the Sipa 100% ground.

More than 20 gossans, which represent oxidised massive sulphides, and which have strong multi element geochemistry indicative of basemetals mineralisation, have been discovered throughout an area of poor outcrop of at least 4 kilometres by 3 kilometres in extent which is surrounded by sand cover. These gossans are associated with strongly altered volcanic and intrusive rocks with widespread oxidised disseminated sulphides.

A helicopter-borne electromagnetic survey, comprising 1450 line kilometres and covering 270 square kilometres centred on the Socrates prospect, was completed in January 2007. Results are awaited.

All new data generated at Woodline is being collated and interpreted and drilling will commence in the first half of 2007.


*All in All a very exciting time for SRI with the continuing draw down in Zinc/Lead LME stocks prices are set to run much higher, with SRI to benefit greatly from the Royalty from Sulphur Springs and the development of deposits in the Panorama Exploration Projects.

Also has extremely good short term value given the impending release of drilling results from Kangaroo Caves,Jamesons and Breakers Prospects which have the potential to significantly move the shareprice(as has been proven by recent releases)*


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## mick2006 (13 July 2007)

There is plenty of up to date information on the CBH website about the *Panorama Exploration Project*, very good to see a company the size of CBH see the area as their major growth project going forward, all the better for SRI.

http://www.cbhresources.com.au/


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## Sean K (13 July 2007)

Not too much to go on chart wise. Might be some good support around .125, on the uptrend support line, but resistance developed at 14. Certainly been re-rated since breaking that 6 ish sideways nightmare.


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## mick2006 (13 July 2007)

thanks kennas, what are your thoughts if it were to break that resistance at 14c?

With drilling results due shortly and recent history of sp spikes after drilling results, then holding at a higher base, will be interesting to see if the next set causes a new base to be formed above 14c.


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## moses (13 July 2007)

Yo Dude! Its looking good on Neilson's SMA chart too. There was sustained interest in this stock before its last rise, and now interest is growing again. All good signs for the future near and far.


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## Sean K (13 July 2007)

mick2006 said:


> thanks kennas, what are your thoughts if it were to break that resistance at 14c?



Not much resistance back to the recent highs, but at the moment I'd be happy to see it follow the potential upward trend line. Spikes normally result in steap pullback too. Slow and steady....blah blah....No TA price targets from this set up.


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## j4mesa (13 July 2007)

just as I typed this one it goes up to 15.5 c already......
is it from ASF members ?
this morning I see it is only 0.14 , interesting...


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## Pommiegranite (13 July 2007)

j4mesa said:


> just as I typed this one it goes up to 15.5 c already......
> is it from ASF members ?
> this morning I see it is only 0.14 , interesting...




possible this:

http://www.theaustralian.news.com.au/index/0,,5005200,00.html

(half way down on the right hand side)

its old news...but shows what good press can do.


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## lioness (13 July 2007)

A snippet from the Herald Sun 3 weeks ago read on SRI as follows:

Quote: Sipa Resources.........Strong Base, The base and precious metals exploration company, share price has been building a base from the early 1990,s. 

As the price oscillates between 10cents and 14 cents, it is in the final stages of the base with a barrier zone at 16 and 18 cents. Once clear the price would be on its way to 29 to 30 cents, then 35 cents, 45 cents and potentially much higher. Risk level is 9.4 cents.

End quote:


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## lioness (16 July 2007)

17 cent resistance may be under attack today.

Would anyone like to confirm if we are in breakout mode??


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## mick2006 (16 July 2007)

very strong performance again for SRI today, I took the chance to take a few profits at 16.5c still holding, will look to re-enter when it settles down a bit. 

Have put the profits to good use and grabbed a few more RBM


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## Uncle Festivus (16 July 2007)

lioness said:


> 17 cent resistance may be under attack today.
> 
> Would anyone like to confirm if we are in breakout mode??




I think we are past that stage as from Dec 06, then confirming on higher low in Apr 07. Now into a tentative rising channel with higher highs & higher lows. The action from now on looks to test past 18 to continue the bullish phase, but nonetheless seems to be in a secular bullish trend now.


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## lioness (20 July 2007)

Anyone like to update charting wise the current price formation.

Hopefully it holds 15 cents as it appear to be a support level.


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## lioness (23 July 2007)

lioness said:


> Anyone like to update charting wise the current price formation.
> 
> Hopefully it holds 15 cents as it appear to be a support level.




No-one willing to help me, what a disappointing site this has turned out to be and I thought this was a nice place to be.


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## rico01 (23 July 2007)

Well looks like it's broken it's support at 15c and next support at 13.5 c
 ... volumn is low today too


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## lioness (23 July 2007)

Many thank rico,

It is on low volume so I suppose that is the only good sign here.

Long term trend up, thanks for the reply.


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## Uncle Festivus (23 July 2007)

lioness said:


> No-one willing to help me, what a disappointing site this has turned out to be and I thought this was a nice place to be.




Here you go. Looks like a consolidation phase for a while until the next announcement probably?


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## lioness (24 July 2007)

Thanks Uncle, yes it has come back now to 13.5 today so not sure where to from here. Long and medium term trend still in place. So you may be right conolidation period before more news. Still confident longer term.


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## lioness (24 July 2007)

mick2006 said:


> Well guys with the recent drop in LME stocks for Zinc/Lead approaching critically low levels.  Zinc now at 16 year lows below 70,000 tonnes and Lead trading at all time price highs.  I have been searching for an undiscovered gem that covers both metals, and I certainly have found a little beauty here in *Sipa Resources (SRI)*
> 
> With tight supply starting to drive prices forward, *(both metals spot prices up 3.5% overnight)* SRI looks good.
> 
> ...




Mick,

Can you help calculate the potential resource available to SRI in market cap terms and hence underlying share price value??????? We know they will upgrade 1.7 mill to possibly double at kangaroo caves, how much does that put on to the underlying share price though Mick??????????


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## AussiePaul72 (26 July 2007)

mick2006 said:


> Well guys with the recent drop in LME stocks for Zinc/Lead approaching critically low levels.  Zinc now at 16 year lows below 70,000 tonnes and Lead trading at all time price highs.  I have been searching for an undiscovered gem that covers both metals, and I certainly have found a little beauty here in *Sipa Resources (SRI)*
> 
> With tight supply starting to drive prices forward, *(both metals spot prices up 3.5% overnight)* SRI looks good.
> 
> ...




Mick, I gained a lot of insight into SRI from your very informative post. Thanks for the research. I haven't jumped in mainly because of no available funds at present. Hope i don't miss the boat! How far away does anyone think the announcements are? I'm thinking there must be something any day now? What are peoples thoughts?
Cheers
Paul


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## alphman (27 July 2007)

I'm not much of a chartist, but looks like 0.13 could be the bottom this time around, although 0.125 may have a chance considering the poor performance on os markets overnight.  This is going by the upward trend on the end of day chart, which is crossing around 0.1275 for me.

On the same chart, I've noticed the sp jump around the start/end of each month since May.  If the planets are aligned for this, we could see run #4 occur next week which coincides with their quarterly report (which could possibly contain the remaining drill results).

My buy was partially executed yesterday at 0.13.  Yes, that was me.


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## lioness (28 July 2007)

This will be a great long term stock as they are due to announce Newmont JV starts drilling in next 2 weeks also. A lot is happening and I expect to have another go at 17  resistance soon. Aussie Paul if you wait another 2 weeks it may be too late.


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## AussiePaul72 (28 July 2007)

lioness said:


> This will be a great long term stock as they are due to announce Newmont JV starts drilling in next 2 weeks also. A lot is happening and I expect to have another go at 17  resistance soon. Aussie Paul if you wait another 2 weeks it may be too late.




Thanks for the heads up Lioness .... much appreciated!! I agree that it looks like a good long term hold. I would dearly like to get on the SRI train before it makes another run. I'm figuring its good value at the moment after the last few days trading. It will all depend whether i can free up some finance. I chose to get on RAU last Friday instead. Holding SDL, GBG & ADY aswell at present. Like the look of SRI and FNT to go with my portfolio if i can get in early enough......


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## lioness (29 July 2007)

I am expecting it to move up to next resistance of 15 cents by end of week.

Quarterly report due out this week.


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## justincase (29 July 2007)

lioness said:


> I am expecting it to move up to next resistance of 15 cents by end of week.
> 
> Quarterly report due out this week.




Lioness, you like to talk up this stock, my feeling is you have a large holding and are trying to ramp up the price.  Where is your t/a?  You have even talked it up on the CBH thread.  If it's such a good buy why arn't you buying more at this lower price?
My


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## lioness (29 July 2007)

Justin,  

I have already discussed t/a refer to previous thread. I am just making others aware of an undervalued junior. If you disagree, just ignore me.

There are others here seeing the value and yes I bought more at 12.5 on Friday and will buy more on Monday also.

Please provide your t/a opinion so we can communicate appropriately.


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## Uncle Festivus (29 July 2007)

There is a fine line between ramping and being enthusiastic about a stocks prospects. All the fundamentals have been displayed in post 41 (excellent work), numerous charts abound. I hold a position in this one because of the above positives. 
Negatives include the current general market correction & ??


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## lioness (3 August 2007)

Uncle,

Any thoughts here given SRI has gone back the SPP price?? Does it have any chance given the short term tredn line has been broken.

Resource estimate update on Kangaroo Caves due out next week might just save it.


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## UPKA (3 August 2007)

lioness said:


> Uncle,
> 
> Any thoughts here given SRI has gone back the SPP price?? Does it have any chance given the short term tredn line has been broken.
> 
> Resource estimate update on Kangaroo Caves due out next week might just save it.




the whole mkt has gone crazy, ppl r selling off ! even ones that has no relation to subprime. so lots or bargains around, SRI *COULD* be one of them. overall, if u r holding for long term, short term volatility shouldnt worry u at all.


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## Sean K (3 August 2007)

UPKA said:


> the whole mkt has gone crazy, ppl r selling off ! even ones that has no relation to subprime. so lots or bargains around, SRI *COULD* be one of them. overall, if u r holding for long term, short term volatility shouldnt worry u at all.



I'm not turing into an uber bear right now, but sub prime flow on (if severe enough) could effect _everything _in the market, _especially _spec stocks with only enough cash just to get through the next FY. When they next go to market, and no one wants to cough up, they disappear. Simple as that. I am NOT saying that this will happen, but it is a risk to be considered in this current state of affairs.  Just playing the devils advocate to keep some balance!


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## Uncle Festivus (4 August 2007)

> Uncle,
> 
> Any thoughts here given SRI has gone back the SPP price?? Does it have any chance given the short term tredn line has been broken.
> 
> Resource estimate update on Kangaroo Caves due out next week might just save it.




Any chance? Save it? It's not finished yet is it?

Yes, it's been hammered with the rest, but what makes SRI a bit different is the partnerships it has entered into, namely Newmont. It is virtually the exploration arm of NEM in Australia. I'm not overly concerned with any technical analysis of trendlines, supports etc when the external forces at work on SRI share price (panic selling by the weak hands?) have really nothing to do with the underlying fundamentals now emerging, both in SRI's exploration prospects & the gold price. Who knows where the market route is going to end, but my money is still in gold, and prospectinve juniors with big backers.


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## lioness (4 August 2007)

Uncle Festivus said:


> Any chance? Save it? It's not finished yet is it?
> 
> Yes, it's been hammered with the rest, but what makes SRI a bit different is the partnerships it has entered into, namely Newmont. It is virtually the exploration arm of NEM in Australia. I'm not overly concerned with any technical analysis of trendlines, supports etc when the external forces at work on SRI share price (panic selling by the weak hands?) have really nothing to do with the underlying fundamentals now emerging, both in SRI's exploration prospects & the gold price. Who knows where the market route is going to end, but my money is still in gold, and prospectinve juniors with big backers.




You are correct, after researching the Tropicana area they have with NEM next door to Anglo who found the biggest gold discovery in Australia's history, we may sit back and laugh at 11 cents for SRI in 6 months time.

However, given the market is about to be hammered again next week we may fall further although longer term this is great for SRI as there is obviously still weak hands in here, but on Friday it looks like they are almost out.


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## purple (6 August 2007)

Uncle Festivus said:


> Any chance? Save it? It's not finished yet is it?
> 
> Yes, it's been hammered with the rest, but what makes SRI a bit different is the partnerships it has entered into, namely Newmont. It is virtually the exploration arm of NEM in Australia. I'm not overly concerned with any technical analysis of trendlines, supports etc when the external forces at work on SRI share price (panic selling by the weak hands?) have really nothing to do with the underlying fundamentals now emerging, both in SRI's exploration prospects & the gold price. Who knows where the market route is going to end, but my money is still in gold, and prospectinve juniors with big backers.




looks like SRI's partner is very bullish on the gold price :


http://compareshares.com.au/show_news.php?id=406498
Commodities boom 'to go on for 20 years'
06/08/2007 11:58am  

Newmont Mining Corp vice-chairman Pierre Lassonde says China and India are likely to power the commodities boom for a further 20 years.

"This bull market in natural resources will last a whole generation. That's 20 years," Mr Lassonde told the Diggers and Dealers forum in Kalgoorlie.

Mr Lassonde said China and India would experience hiccups along the way but it wouldn't disrupt the boom's strong path.

He said gold, platinum and oil prices still had a lot of upside but copper and molybdenum prices had hit their peak.

"The gold price will go a heck of a lot higher," Mr Lassonde said.

Mr Lassonde is vice chairman of the world's second largest gold producer, Newmont, and chairman of the World Gold Council.


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## explod (6 August 2007)

lioness said:


> You are correct, after researching the Tropicana area they have with NEM next door to Anglo who found the biggest gold discovery in Australia's history, we may sit back and laugh at 11 cents for SRI in 6 months time.
> 
> However, given the market is about to be hammered again next week we may fall further although longer term this is great for SRI as there is obviously still weak hands in here, but on Friday it looks like they are almost out.




Good post from yourself and Uncle F.   Sellers began to lose interest Friday and seems to have gained support today, larger buyers appearing at .10cents.    With US dollar close to all time low would not be suprprised to see move on the gold price sooner than many expect.   In fact the US fed would have to uptick interest rates to stop the fall now and that is appearing very unlikely IMHO


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## lioness (12 August 2007)

explod said:


> Good post from yourself and Uncle F.   Sellers began to lose interest Friday and seems to have gained support today, larger buyers appearing at .10cents.    With US dollar close to all time low would not be suprprised to see move on the gold price sooner than many expect.   In fact the US fed would have to uptick interest rates to stop the fall now and that is appearing very unlikely IMHO




Thanks Explod,

For your and everyone's information SRI just got a good write up in the latest Resource Stocks magazine as "trading at a strangely affordable price", based upon JV's with all the big boys, such as Newmont, Newcrest, CBH.

Well worth a read.


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## lioness (12 August 2007)

kennas said:


> I'm not turing into an uber bear right now, but sub prime flow on (if severe enough) could effect _everything _in the market, _especially _spec stocks with only enough cash just to get through the next FY. When they next go to market, and no one wants to cough up, they disappear. Simple as that. I am NOT saying that this will happen, but it is a risk to be considered in this current state of affairs.  Just playing the devils advocate to keep some balance!




SRI will not disappear Kennas, they are free carried on every project now with 8.5 mill cash at bank so no need to raise for a long time. Just thought I should make that point of free carry. cheers


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## Sean K (12 August 2007)

lioness said:


> SRI will not disappear Kennas, they are free carried on every project now with 8.5 mill cash at bank so no need to raise for a long time. Just thought I should make that point of free carry. cheers



Very good point Lioness. Those who have recently gone to market, or in JVs free carried, must be better looking in the short term. But also depends a great deal on how far and deep this correction/consolidation/crash extends perhaps. Very good that it's consolidating above 10 cents. Failing here, and it's not looking great chart wise.


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## spottygoose (12 August 2007)

lioness said:


> Thanks Explod,
> 
> For your and everyone's information SRI just got a good write up in the latest Resource Stocks magazine as "trading at a strangely affordable price", based upon JV's with all the big boys, such as Newmont, Newcrest, CBH.
> 
> Well worth a read.





Thanks to Deltra from HC who provided a bit more insight into the articleon SRI from the latest copy of the Resource Magazine. Deltra wrote:

It explains that many of their current projects are company makers.

It states and I direct quote from it "Sydney based brokerage Stock Resource was glowing in its assessment of the deal(Newmont) and immediately rated the stock as a Buy for its clients".

In relation to its zinc deposits at Kangaroo caves it states "Sipa's 40% interest in any satellite deposits at Panorama could be worth a lot to the company".

It is 2 pages long so too much to write down here.

It states besides having production experience and several big partners it is trading at a strangely affordable price.


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## lioness (19 August 2007)

Spotty goose,

You still in SRI?? It has collapsed obviously but won't take much volume to push this back to 13 cents with good news.

Are you staying in or jumping ship after the markets recent fall??


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## spottygoose (19 August 2007)

Lioness, speculative stocks are going to suffer the most at the moment but having said that this one has a lot of news due over the coming months so I  I am definately staying in. As you point out it won't take much to gap up to where it was before this correction and hopefully an upgrade of the resource at Kangaroo Caves will be just the thing to do it. I imagine we will be back in the teens before too long and back in the twenties within 2 or 3 months. Well, that is my theory anyway!


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## lioness (21 August 2007)

Spotty, looks like that capper is gone at 10 cents, it might be ready to move real soon, sparse sellers on the board, with great news this will take off AGAIN.


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## lioness (1 September 2007)

Next to no volume last 2 days, maybe turning around spotty goose??

Several news due on all fronts


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## spottygoose (1 September 2007)

Lioness, I think some results from Woodline might be due pretty soon. Newmont has secured a rig and drilling was to commence about now. There has certainly been a little interest lately keeping it in double figures and it looks like the holders are set and waiting. Be interesting to see what happens next hopefully some good results and not more market jitters.


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## explod (2 September 2007)

With a nice jump in the gold price at the close and the SP showing it has bottomed we should now move back up a bit this week.

Positive news on a number of fronts expected soon


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## lioness (3 September 2007)

Explode,

Why have they not announced gold drilling commenced at Woodline with Newmont??????? News is overdue on 3 fronts and still they keep quiet, is this the clam before the storm and do your charts indicate a positive or negative move and when is the move due to happen??

Much appreciated.


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## shinobi346 (21 September 2007)

I've been watching SRI since the crash. Unfortunately I've put investing more into portfolio in the sidelines for the moment and this share keeps going up. I wish all my other spec resource stocks were like this. I missed the momentary close at <10c the other day. hopefully it will reach that level again when I'm ready to invest more.

For now I'm putting more into my bank account to balance out my investments.


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## explod (1 October 2007)

A healthy move today, a bit of resistance at .13 but once clear should see it return to value.  With NEM behind this one gives some confidence in its potential.


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## lioness (2 October 2007)

explod said:


> A healthy move today, a bit of resistance at .13 but once clear should see it return to value.  With NEM behind this one gives some confidence in its potential.




Explod,

A question for you on gaps, as it gaped up to 13, it should come back to touch 12, am I wrong??? Yes it was a healthy move but with no real volume behind it also. Would like to see much more volume for a stronger move.

What are the chances on this trend as it always seems to run out of gas.


----------



## explod (2 October 2007)

lioness said:


> Explod,
> 
> A question for you on gaps, as it gaped up to 13, it should come back to touch 12, am I wrong??? Yes it was a healthy move but with no real volume behind it also. Would like to see much more volume for a stronger move.
> 
> What are the chances on this trend as it always seems to run out of gas.




Probably not far from a reverse hammer however it gapped up like this back in late Dec 06 and went on to a higher level.

It is very sensitive to the gold price and should follow, which is up more overnight.

There is news due out on a number of soil tests so we will see what pans out.


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## saichuen (2 October 2007)

lioness said:


> Explod,
> 
> A question for you on gaps, as it gaped up to 13, it should come back to touch 12, am I wrong??? Yes it was a healthy move but with no real volume behind it also. Would like to see much more volume for a stronger move.
> 
> What are the chances on this trend as it always seems to run out of gas.




Well, what do they say about gaps? Aren't they meant to be filled? 

Also, this stock has ran pretty hard for the last few days on above average volumes. Time for a pullback before continuing as traders may lock in profits soon?

My 2 cents worth.

Happy trading!


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## Sean K (2 October 2007)

saichuen said:


> Well, what do they say about gaps? Aren't they meant to be filled?



Not necessarily. A breakaway gap, by definition, breaks away and won't be filled in the short to medium term. Won't know if it is though, until the sp has run away!  Not saying that will happen of course!


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## lioness (2 October 2007)

It did what was expected and closed the gap at 12 cents, great news, now we can move forward from here. Also retracing on low volume, a good sign.


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## spottygoose (2 October 2007)

Ok here is an update from a contact of mine who rang the company this morning.

Kangaroo Caves – The new resource estimate is due soon. No later than two weeks worst case. They are meeting with with the consultants today.

Woodline is being drilled currently but that is all expected to take 2 months.

The next target will be drilling at Kangaroo Caves again early November.

The director sounded positive and upbeat (within the realms of asx requirements of course!). 

Judging by the recent interest in SRI, my guess is the new resource estimate at Kangaroo Caves will be very nice.....


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## Uncle Festivus (3 October 2007)

This is the long term chart I've been going by for a while, so as long as the up trend continues and higher lows to the trend line isn't breached then slow & steady as she goes maybe.


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## shinobi346 (4 October 2007)

do both graphs use the same date range?

Seems like its the start of forming the other half of a bowl.


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## explod (4 October 2007)

shinobi346 said:


> do both graphs use the same date range?
> 
> 
> Which graphs are you referring to???
> ...




Yes that is what Uncle Fest. asserts here.  A prime feature of charting is continuation patterns.   It will be found that some stocks have their own particular pattern characteristics.  I find it both interesting a useful to look at a stocks chart right back to their inception.


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## lioness (4 October 2007)

Uncle Festivus said:


> This is the long term chart I've been going by for a while, so as long as the up trend continues and higher lows to the trend line isn't breached then slow & steady as she goes maybe.




Uncle,

do you mind explaining this chart in detail for us dummies.

I presume you assess it on a long term basis as a rounding saucer pattern and upon breaking resistance at 13, it should move higher in an uptrend.

Can you explain why this stock has taken a long long time to eventually lead to a break out and because of this length of time does that mean when it does break out, it should lead to very large gains???

More detail is very appreciated Uncle.


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## Uncle Festivus (4 October 2007)

lioness said:


> Uncle,
> 
> do you mind explaining this chart in detail for us dummies.
> 
> ...




First up, I'm definitely not a technical analysis expert so I really can't explain the chart in any terms that an accomplished ta would, and certainly don't want to start the usual ta v fa arguments all over again. All the chart portrays is the disappointment from previous ventures coming to an end and the increasing optimism of the current multi-faceted exploration prospects being priced in for the future. 

As time advances and each project advances, each pullback in the price is met by buyers not willing to sit by the sidelines for a lower price and so each wave of weakness is met by support backed by improving fundamentals. So we get the saucer pattern. An no, if it breaks out technically, it is still no guarantee of _huge_ gains, without some good announcements to accompany it or precede it or support it.

The fact that this one lines up with some of my favorite indicators eg fibs, OBV, & symmetrical parabola curves strongly supports the fundamentals - that is, until the fundamentals change? I'm sure a ta would be able to explain it better, but for me after a while you get a 'feel' for some stocks if you watch them on a daily basis eg watching how fast the bidders fill the depth gives you a feel of the sentiment etc and having a look at the course of trades at the end of each day if you get really keen. 

It still comes down to drilling holes, getting lucky and hitting pay dirt in the end.
UF

Another advanced spec, RED, is looking interesting too.


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## lioness (6 October 2007)

Thanks Uncle, a geat explanation, but I have been patient with this little gem which is failing to deliver whilst everything around it in gold goes skyrocketing.

What just do we expect from Woodline. I have done heaps of research with IGO and Tropicana next door with Anglo Ashanti and their ground cover is 2nd largest in Australia and prime too. BUT this company never shoots on with no interest, WHY?

With the price of au shooting what is the real issue here??

Time will tell, just getting fed up with the slow snail moving here.


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## Uncle Festivus (6 October 2007)

lioness said:


> Thanks Uncle, a geat explanation, but I have been patient with this little gem which is failing to deliver whilst everything around it in gold goes skyrocketing.
> 
> What just do we expect from Woodline. I have done heaps of research with IGO and Tropicana next door with Anglo Ashanti and their ground cover is 2nd largest in Australia and prime too. BUT this company never shoots on with no interest, WHY?
> 
> ...




Yes, when compared to the rest of the stock market over the last 4 years it can seem to be slow & frustrating, but that is the lot of the junior explorer. If you do your research on these penny dreadfuls & steadily accumulate at the right price, then you just sit back and watch it happen. It won't happen overnight so just need to be patient. Put it this way, when the price is right, I buy/accumulate in 100k lot's, so it doesn't take much sp movement to make a buck. I'm confident this one will pay-off down the track.


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## explod (8 October 2007)

Uncle Festivus said:


> Yes, when compared to the rest of the stock market over the last 4 years it can seem to be slow & frustrating, but that is the lot of the junior explorer. If you do your research on these penny dreadfuls & steadily accumulate at the right price, then you just sit back and watch it happen. It won't happen overnight so just need to be patient. Put it this way, when the price is right, I buy/accumulate in 100k lot's, so it doesn't take much sp movement to make a buck. I'm confident this one will pay-off down the track.




We are near now to a good chance that feedback on latest soil tests will be positive.    On the chart a break of (will be the third) .13 cents will be tested this week if gold stays firm also.


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## Miner (10 October 2007)

Where is lioness?
Have not seen his or her ramp for SRI for long time.
Should I call the latest post is another to out beat Lioness?
SRI has IMO no practical value for 12 months

Regards


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## lioness (10 October 2007)

Miner said:


> Where is lioness?
> Have not seen his or her ramp for SRI for long time.
> Should I call the latest post is another to out beat Lioness?
> SRI has IMO no practical value for 12 months
> ...




I am here Miner and not ramping just productive discussion unlike your post which should have been pulled by Joe but was missed again as usual.

An insult to me really.


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## explod (10 October 2007)

Miner said:


> Where is lioness?
> Have not seen his or her ramp for SRI for long time.
> Should I call the latest post is another to out beat Lioness?
> SRI has IMO no practical value for 12 months
> ...




And I am certain that we would all be pleased to have an insight into why your opinion formed the view that SRI has no value for the time frame outlined.   Or is this then an unsubstantiated ramp down.


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## Miner (11 October 2007)

Dear Explode and Lioness

First of all thanks that you chose to respond.
I am not ramping any one up or down.
Regarding ramping down i only quote " He that is down needs no fear to fall".
SRI is at such a low price that any one to ramp it is down further will be a joke. 
I have noticed lot many interesting postings on SRI from some particular participants. They know who and not want to spoil the party.

So far SRI has produced no exemplary results even if it has tied up with good names. Result is everything. If it is so good then how could the sp has no signficant movement for long time.
No personal sledging here and all for the interest of chat .

Regards

Miner


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## justincase (13 October 2007)

Miner said:


> Dear Explode and Lioness
> 
> First of all thanks that you chose to respond.
> I am not ramping any one up or down.
> ...




GOOD ON YA MINER!!!!
I was saying this back in July!!!!! They love to ramp this one. Personally I wouldn't touch it.


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## Uncle Festivus (13 October 2007)

Looks like someone let the kiddies in .

Each to his own, but if you can't add more to an informed discussion then why post at all?

The company has no less than 6 prospective exploration plays which could move the sp over the coming months. 



> Over the next four months, Rotary Air Blast (RAB)/Aircore and Reverse Circulation (RC) drill rigs will be actively involved in exploration drilling at six of Sipa’s gold and basemetal projects throughout the southeast, northwest and midwest regions of Western Australia.​
> Results from all exploration activity will be released to the Market as the information is received and evaluated.​




It's likely that the results for these holes won't be available for some time after drilling - & they are not diamond drills so still very early stages - patience required?

PS - if you had bought this stock anytime in 2006 and sold in 2007 at the peaks you would have doubled your investment.​


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## Uncle Festivus (19 October 2007)

Latest Announcement


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## alphman (22 October 2007)

Resource statement out this morning for Kangaroo Caves:

http://imagesignal.comsec.com.au/asxdata/20071022/pdf/00772131.pdf

In summary:



> Sipa is pleased to announce a new Identified Mineral Resource for the Kangaroo Caves Zinc-Copper Deposit within the Panorama Exploration Project in the Pilbara Region of Western Australia (see Figure 1) of;
> 
> 6.3 million tonnes grading 3.3% Zn and 0.5% Cu, containing 210,600 tonnes of contained zinc metal and 32,700 tonnes of contained copper metal.
> 
> The new Resource Estimate represents a 26% increase in contained zinc metal and a 220% increase in contained copper metal on the previous (1997) estimate.


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## UPKA (29 November 2007)

Positive announcement on the Woodline project, Thaduna drill result should be out tomorrow according to last progress report.


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## chicken8 (29 November 2007)

seems undervalued with a market cap of 36mill

can someone do some evaluation to see what todays announcement is worth?


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## ectoplasm (12 January 2010)

Price action on the SRI Chart looks to have broken out after consolidation since October ~ 

Daily chart: Volume is up as well


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## shinobi346 (14 April 2010)

chicken8 said:


> seems undervalued with a market cap of 36mill
> 
> can someone do some evaluation to see what todays announcement is worth?





Well they recently just did a share placement with inisitutional shareholders and are now doing another one with the normal folk. I'm still deciding what I'm going to do. They're allowing anyone to buy just as much so theres no extra for having been a big(ger) shareholder.


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## beatle (8 June 2010)

I refer to the announcement of SRI to call a Trading Halt:

"The Company seeks a trading halt pending release of drilling results at the Thaduna Project.
2. We expect the halt to be over by the Wednesday. (9th June)
3. Information regarding the recently completed drilling programme is expected to be made available.".

IMO this is an extremely bullish announcement by SRI. If you know how the company is run very conservatively by a highly professional and capable geo (Mike Doepel) you will realise that this TH must be very significant in relation to that drilling at Thaduna, with it being in the area close to SFR's Doolgunna project, and it being related to significant mineralised structures and based on similar geophysical work prior to drillholes being targetted.

Clearly the fact that the drilling has apparently only just been finished suggests to me that there must be some very significant (and price sensitive) news. It is likely is would be some long runs of visual suphides, most likely having copper sulphides included. SRI has only recently given an update during the process of this drilling program and refers to:
"RC drilling at the Thaduna Project commenced on 23 May to target high quality targets derived from a recently completed helicopter‐borne electromagnetic (VTEM) survey and primary mineralisation at the Ricci‐Lee and Rooney’s copper mines.
One drill hole (THC001) has been completed to date for 260m at the Ricci‐Lee copper mine and intersected 7m and 3m of visible malachite from 92m and 102m, respectively. This indicates a previously unknown parallel load west of the Ricci‐Lee main load. The drill hole also intersected 19m of graphite alteration from 198m, which is known from shallow drill holes to host supergene copper mineralisation at Ricci‐Lee, with quartzcarbonate veins and some primary sulphides. The helicopter‐borne electromagnetic (VTEM) geophysical survey is of the kind that reportedly identifies Sandfire Resources NL’s DeGrussa‐Conductor 1 high‐grade copper gold deposit about 25 kilometres west of Sipa’s western boundary."

My view is that clearly with this very positive initial exploration update only 2 weeks ago there must be some more, even more positive announcement due out to make a decision to have a TH. IMO it is likely to be a visual qualification statement that will lead to more interest and excitement at the time of an assay release.

(I have separately made comment of an adjoining tenement holder, LSR, as a speculative punt as a result of this TH by SRI).

Go SRI UP, UP, and Away, you deserve it !


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## beatle (16 August 2010)

*SRI - Sipa Resources Ltd*

SRI share price has strengthened in the past couple of trading days and this morning it was out of the blocks with high volume and traded as high as 13.5 cents, up 28.5%, but now mid-session at 11.5 cents up 14%, on 8.5 million shares. The ASX queried the company the reason for increase in volume and price mid-morning and has managed to dampen the trading somewhat. 
SRI’s explanation as to the upbeat trading activity was to declare nothing of significance that has not already been declared in past ASX releases, but that there was an article in the West Australian newspaper on Saturday just past.

Investors should be aware that SRI holds prime exploration ground in a number of different highly sought after locations in Australia, with exploration drilling scheduled to commence shortly:

1. In the Doolgunna mineral province (the subject of the West Australian newpaper article), where SRI holds considerable ground containing the Jenkins Fault that maybe the locus for mineralization associated with SFR’s Degrussa deposit. SRI is planning a 30,000 metre drilling program due to commence shortly with results likely within the next month or so. In terms of market cap and land holdings SRI has considerably lower market cap than a number of its neighbors but holds prime land, with past historic mineralization already evident in a number of locations. Any reasonable copper hits in the upcoming drilling could see SRI share price double or triple based on SFR, THX, TLM market caps.

2.In the Tropicana gold belt SRI has recently completed a most exciting drilling phase with considerable gold hits at its Woodline project, and its shaping up to be a considerable resource located at shallow depths in a few different prospects. Follow up drilling is expected shortly.

In addition SRI is likely to commence exploration activities towards the end of this year at Ilgarari and Tennant Creek following up earlier exploration work, including drilling at both project locations. 

SRI has got around $9.3 million cash in bank so its exploration activity and share price will not be disadvantaged by the need to go to investors within the next year or so for more cash.

While SRI is a speculative mineral explorer, its considerable landholdings in a number of highly prospective mineral provinces in Australia, its geological expertise and its current cash holdings make it an attractive company and any success in its scheduled drilling in the short term is likely to spur its share price out of its recent trading range, and more particularly beyond 16 cents. Its market cap around $44 million is still low compared to many of its exploration peers related to landholdings.


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## mr. jeff (16 October 2011)

SRI has had some success at Thaduna, 

"OUTSTANDING COPPER RESULTS FROM ENIGMA AT THADUNA"

"The key features are:
● The secondary copper blanket is open to the east and west at the depth that it has been intersected. It may not be properly constrained to the north and south
● Grades are up to 3.7% Cu over 8 metres, and thicknesses are up to 52 metres grading 0.3% Cu:
● grades are in excess of 1% Cu, in four holes, over 500 metres width on the western line
● grades are in excess of 1% Cu, in three adjacent holes, over 200 metres width on the eastern line
● 20 holes, out of 24 holes that reached the mineralised zone, finished in significant copper mineralisation at ‘Aircore refusal’ in weathered rock. We have not yet fully penetrated the oxide copper mineralisation or defined its lateral extent, let alone tested primary mineralisation
IN SUMMARY
● Undoubtedly these are the best copper results in the Doolgunna District since Sandfire Resources’ DeGrussa discoveries two years ago!
● Our challenge is now to define the ‘depth, and lateral, extent’ and the ‘grade-distribution’ of the copper blanket and then to find its ‘primary source’!"

SRI for no news on Friday put on 20% and may be worth watching for further developments. It seems that as risk appetite returns, so too may copper markets and this potential find could encourage some good developments at Thaduna.


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## Telamelo (6 August 2016)

Sipa Resources’ (SRI) late call-up to the speaker’s podium at this week’s Diggers and Dealers mining forum in Kalgoorlie couldn’t have come at a more fortuitous time for the base metals explorer.
On Monday, Sipa announced the start of an eagerly anticipated drilling campaign at its Paterson North project in WA which could well mark a defining moment in its 30-year history as an ASX-listed company.
And Sipa MD Lynda Burnett used the Diggers platform to remind delegates both of the importance of greenfields exploration and the mind-boggling investment returns that can flow from major discoveries such as Sirius Resources’ famed Nova discovery and Sandfire’s DeGrussa find.
Sipa’s drill rig should start turning sometime in the next few days, targeting a large 4km by 2km primary copper-gold anomaly, known as the Obelisk prospect, where it is hunting for a large copper-gold orebody hidden beneath thick transported cover.
Burnett illustrated the point by tipping a jug full of “sand” (actually polenta) over a jar containing a model of an elephant (to symbolise a world-class discovery) in front of the afternoon crowd on Day Two of the forum.
She has every reason to be enthusiastic about the target.
For one, it sits immediately adjacent to some hot new geophysical anomalies announced recently by Antipa Minerals’ (ASX: AZY) at their Citadel Project (subject to a $60 million farm-in deal with Rio Tinto).
For another, it sits on the southern margin of a granite intrusion – the perfect setting for some of the really big deposits of the Paterson Province like Telfer (where Burnett started out her career as a young mine geologist). 
Sipa secured its ground earlier this year through a $3 million farm-in deal with private company Ming Gold Pty Ltd. Ming found plenty of smoke in early-stage exploration over the area, reporting highly anomalous copper values from aircore drilling.
With action aplenty on the drilling front, Sipa is now beginning to attract a growing band of enthusiastic followers amongst the analyst community.
Veteran resource analyst Gavin Wendt this week added the stock to his widely followed “Minelife” investment portfolio, saying it had attracted his attention because of its exploration activity in the Paterson Province – one of the current “hot spots” for exploration in Australia.
“Our coverage initiation of Sipa is occurring at what I believe is a very fortuitous time,” Wendt wrote.
“Firstly its share price looks to have bottomed back in March around 1.4c and since then strong trading volumes have coincided with an appreciating share price.
“Secondly, Sipa is set to commence maiden drilling at its Obelisk prospect, which represents an extensive primary copper-gold anomaly that lies immediately to the north of fellow portfolio stock Antipa Minerals’ Magnum and Citadel copper-gold projects.
“These projects have garnered strong market interest and both companies’ drilling will be closely watched.”
Wendt, whose coverage was initiated at a price of 2.5c, says the company is in an “encouraging position”.
“From a market capitalisation perspective alone, Sipa is priced at $18 million, compared with Antipa at $38 million, so potentially offers even greater leverage to exploration success.”
Meanwhile, in a detailed initiation report, analyst Mark Gordon from Independent Investment Research said Sipa’s key strengths were having a team of exploration specialists with a strong track record, highly prospective ground holdings and “money in the ground”.
“With a market capitalisation of just over $16 million, Sipa is well leveraged to exploration success,” Gordon said.
“Notable examples over the past few years include Sirius Resources, whose share price went from $0.05 to a peak of $5.00 following the 2012 Nova-Bollinger discovery….and Sandfire’s Doolgunna copper-gold discovery, which took the share price from 5c to $4.08 on the initial run, with subsequnt movements to over $5.00 a share.”

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Please DYOR as always....   Cheers tela


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## Telamelo (6 August 2016)

Telamelo said:


> Sipa Resources’ (SRI) late call-up to the speaker’s podium at this week’s Diggers and Dealers mining forum in Kalgoorlie couldn’t have come at a more fortuitous time for the base metals explorer.
> On Monday, Sipa announced the start of an eagerly anticipated drilling campaign at its Paterson North project in WA which could well mark a defining moment in its 30-year history as an ASX-listed company.
> And Sipa MD Lynda Burnett used the Diggers platform to remind delegates both of the importance of greenfields exploration and the mind-boggling investment returns that can flow from major discoveries such as Sirius Resources’ famed Nova discovery and Sandfire’s DeGrussa find.
> Sipa’s drill rig should start turning sometime in the next few days, targeting a large 4km by 2km primary copper-gold anomaly, known as the Obelisk prospect, where it is hunting for a large copper-gold orebody hidden beneath thick transported cover.
> ...



More detailed info. about SRI drilling campaign underway showing geology maps etc. as was announced per link 
bit.ly/29FAOvt 

Please dyor as always.... 

Cheers tela


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## greggles (14 May 2018)

Sipa Resources have announced a Farm-in and JV Agreement with Rio Tinto for their Kitgum Pader Base Metals Project in Northern Uganda.

Under the agreement, Rio Tinto has the option to earn up to a 75% interest in the project by incurring exploration expenditure in the following stages and amounts:
- US$12M of exploration expenditure within 5 years including a minimum commitment of US$2.0M, to earn 51% (Stage 1);
- Additional US$15M of exploration expenditure within a further 3-year period to earn a 65% interest (Stage 2);
- Additional US$30M of exploration expenditure or declaration of a JORC resource containing at least 250,000 tonnes of contained nickel or nickel equivalents within a further 3-year period to earn a 75% interest (Stage 3).

It's not a done deal yet as the agreement is conditional on due diligence being completed and satisfactory to Rio Tinto within three months of signing.

Still, it gave a nice lift to Sipa's share price this morning which is currently trading at 1.2c, up 50% from Friday's close of 0.8c.


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## Miner (14 May 2018)

greggles said:


> Sipa Resources have announced a Farm-in and JV Agreement with Rio Tinto for their Kitgum Pader Base Metals Project in Northern Uganda.
> 
> Under the agreement, Rio Tinto has the option to earn up to a 75% interest in the project by incurring exploration expenditure in the following stages and amounts:
> - US$12M of exploration expenditure within 5 years including a minimum commitment of US$2.0M, to earn 51% (Stage 1);
> ...



Great Greggles
You must have nerve to hold on for 2 years on SIPA . The posting on this thread before your was in 2016.
So it appears you have the nerve and patience. Commendations .


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## greggles (14 May 2018)

Miner said:


> Great Greggles
> You must have nerve to hold on for 2 years on SIPA . The posting on this thread before your was in 2016.
> So it appears you have the nerve and patience. Commendations .



I'm not actually holding Sipa at the moment. I just saw it moving this morning and wondered why. If the JV with Rio Tinto goes ahead it will be a great result for the company after a long slide down from 20c starting in September 2011. Sometimes these mining minnows do come back from the dead. It will be interesting to see if Sipa will be one of them.


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## Miner (14 May 2018)

greggles said:


> I'm not actually holding Sipa at the moment. I just saw it moving this morning and wondered why. If the JV with Rio Tinto goes ahead it will be a great result for the company after a long slide down from 20c starting in September 2011. Sometimes these mining minnows do come back from the dead. It will be interesting to see if Sipa will be one of them.




Yes I understand it on your holding. 
Big mining companies investing on such companies with a JV just a bubble for them though a storm for the minnows and holders of those minnows for sure.
Newcrest NCM also has similar JVs but not all times the share markets get excited.
Having said, your posting has evoked my alertness on SRI.
Thanks


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## barney (12 November 2018)

Even the long suffering Sipa have been getting some trading attention …… 

SRI also hold land around the Patterson where RIO and FMG have been buying up big lately ….. 

AZY have been traded off the map today and given SRI is now surrounded by both the big boys above, they could actually both shape up as future takeover targets if they "get in the way" 

Interesting things going on behind closed doors perhaps.


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## rederob (28 February 2022)

A competition entry stock only:





Sipa would have more luck find gold if they went into dentistry and looked.


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## greggles (18 August 2022)

Sipa Resources update.


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