SRI - Sipa Resources

[Uncle Festivus]

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.

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.

 

[explod]

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.

 

[Miner]

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

 

[lioness]

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

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.

 

[explod]

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

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.

 

[Miner]

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

 

[justincase]

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

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

 

[Uncle Festivus]

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.​

 

[Uncle Festivus]

Latest Announcement

 

[alphman]

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.

 

[UPKA]

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

 

[chicken8]

seems undervalued with a market cap of 36mill

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

 

[ectoplasm]

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

Daily chart: Volume is up as well

 

[shinobi346]

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.

 

[beatle]

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 !

 

[beatle]

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.

 

[mr. jeff]

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.

 

[Telamelo]

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.”

------------------------
Please DYOR as always.... Cheers tela

 

[Telamelo]

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 subsequent movements to over $5.00 a share.”

------------------------
Please DYOR as always.... Cheers tela

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

 

[greggles]

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.