According to Barry Fitzgerald in today's Resource Rising Stars article, RIO appear to have made a significant copper find on their massive new landholding all down the western side of Sipa's Paterson Project tenements:
Sipa originally picked up their project, and later extended it, on the strength of the RIO / Antipa JV activity to the south of their area. However, RIO have since picked up a much larger landholding that is 100% theirs, to the west of Sipa's ground:
And according to the article and tenement watchers, the rest has been address pegged by FMG, leaving Sipa surrounded by RIO to the west and FMG to the north. Not a bad positon to be in.
So if this really is a big emerging copper discovery, as RIO's activity cited in the article suggests, we could be in a Fraser Range type situation, except that most of the ground has been snatched by the big boys and Sipa is the only minnow with a significant position.
Lynda Burnett's rationale for this project (elephant country, right rocks, other major discoveries, and a major - RIO - spending serious money) would appear vindicated.
Hopefully it is another decent discovery. That's just what the WA mining industry needs. To long between drinks.
AZY up 12% on today's RRS article.
SRI Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
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