Sipa Resources

Primary ticker: ASX:SRI
Stage of development: Exploration
Primary minerals: Nickel/copper/gold/base metals
Project to promote: Kitgum Pader Base Metals Project, Paterson North Copper Gold and the Barbwire Terrace Zinc

Live financials

Sipa is a first mover in under explored frontier mineral provinces with three high quality exploration projects.
• The nickel copper sulphide discovery at the Kitgum-Pader Base Metals project in Uganda. In May 2018 Sipa announced a Landmark Farm-in Agreement with Rio Tinto to underpin accelerated nickel-copper exploration where Rio Tinto can fund up to US$57M of exploration and make US$2M in cash payments to earn up to a 75% interest in the project;
• The emerging copper gold discovery at Paterson North, Western Australia; and
• The newly generated Mississippi Valley Type zinc-lead exploration project named Barbwire Terrace in WA’s Canning Basin

Management Profile

Lynda Burnett – Managing Director
Mrs Burnett is a geologist with over 30 years’ experience in the mineral exploration industry. Prior to joining Sipa she was most recently Director – Exploration Australia for Newmont Asia Pacific. During her nine year tenure with Newmont, Lynda was responsible for the strategic planning, management and oversight of all Newmont’s generative exploration projects, as well as business development, in the Asia Pacific region including the discovery of the plus 3Moz McPhillamy’s Gold Deposit in NSW. Prior to her roles at Newmont, Lynda worked for a number of mining and exploration companies including, Normandy, Newcrest and Plutonic Resources and as an executive director of Summit Resources Ltd. Lynda is currently on the advisory board of the Centre for Exploration Targeting based at the University of WA

What is your rationale for attending 121 Mining Investment?

To inform investors of the progress at the Kitgum – Pader Base Metals project and meet investors who are interested in belt scale first mover exploration plays in very prospective districts

What recent news would you like to highlight to investors attending?

Most recent presentation AGM 14th November 2018

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Complete Exploration review of 2018 program in Paterson north. Conduct drilling of Akelikongo Ni Cu sulphide intrusion down plunge.

6 Months:

Resume field exploration in the Paterson including geophysics and drilling. Find a partner for our belt scale MVT zinc project in NW Western Australia. Results from Ni-Cu exploration in Uganda

12 Months:

Drill at least one potentially economic new drill intercept at one of our three projects. Add to the project pipeline by internally generating new quality exploration projects.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Funding is always an issue. We have raised 3M of new equity in November in a difficult market but we spend those funds on exploration. Hence we require more patient funding by those who understand the nature and risks in greenfields exploration.

In a sentence, what do you think makes your company such a compelling investment?

Sipa has a successful history and positive present and an exciting future in generating and exploring new frontiers for large economic gold and base metal deposits.