SRI

0.00%

1.5¢ sipa resources limited

Keep posting fozzie.. or can we get you to be the media manager...

First 30 Last

Share
Profile

Follow
rickh

2,611 Posts.

17

13/03/15

06:54

Post #: 14906521
Share

Originally posted by FozzieBear ↑

I am a longtime Sipa lurker but previously never an owner, reason being was the Thaduna target was a Cu sedex style deposit like Nifty in the Patterson province.

The problem with a Nifty style deposit would have been the grade - 1.5% cu ballpark target. The grade in itself is good if its an open pit job. But it was clear whatever is going on at Enigma was going to be deep and because of this those type of copper grades for an underground mine would have been marginal. A marginal mining proposition usually would have a low enterprise value.

The bht -pamwa, magmatic ni - akelikongo and oregenic gold targete in Uganda all have potentially very large enterprise values in the ballpark in excess of a billion dollars. See SIR has an EV of a billion for their ni magmatic deposit, IGO has only 30% of an orogenic gold deposit and the bulk of their 1 billion valuation is attiributed to this. BhT deposits well these guys can be way way over a billion dollars cannington broken hill etc. Something like a nifty target that is deep and an underground mining proposition in this cu market would have an EV in the ballpark of 100 million.

Anyway its not hard to see why Thaduna was jettisoned, the risk reward just wasnt there for a cu sedex deposit, in my opinion only - with the most respect possible.

Also the tenements in Uganda are basically an entire section of a mobile belt, it is rare for a junior to get hold of a contiguous landholding that has not been subjected to modern systematic exploration. This is the key point, In any belt there will always be an entire spectrum of undiscovered deposits from huge down to the tiny. It is the huge ones at surface that typically get found first, reason being is they are outcropping (or close enough to surface they have geochemical expressions in the regolith) and because the first order deposits are large they have the largest anomalies that typically dont get missed.

In short I can understand why long time holders are jacked off they werent consulted selling off Thaduna, but in my humble opinion it was absolutely for the best.

Expand

Keep posting fozzie..
or can we get you to be the media manager for sipa..best way it has been explained yet!
thanks

SRI Price at posting: 7.3¢ Sentiment: Hold Disclosure: Held
6 Upvote

0 Great analysis

Reply

Top Stories

RMX

Red Mountain Mining: record gold prices, two projects, two greenstone belts

PRU

Perseus Mining boosts stake in Predictive Discovery to 19.9% as latter's flagship project stalls

OCC

Orthocell kicks off collagen-based dental bone repair product sales in Canada; eyeing next stop Brazil

SBW

Shekel Brainweigh investor presentation webinar – the future of retail automation

As Nvidia cools, we're looking to Aussie AI

CBA breaks trading record on strong day for Aussie financials

BIT

HotCopper users blunt as Biotron sinks -35%; long-awaited COVID drug results same as placebo

QML

Metallurgical testing shows saleable copper and pyrite from QMines' Develin Creek project

LAM

Laramide sniffs prime Kazakh uranium, with agreement over 6000 square km land position

Week 36 Wrap: AI hype wave tested again; Oz per capita recession continues; AirTrunk’s $40B+ payday

There are more pages in this discussion • 97 more messages in this thread...

First 30 Last

Add SRI (ASX) to my watchlist

(20min delay)
Last 1.5¢		Change 0.000(0.00%)		Mkt cap ! $3.422M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
1	21591	1.5¢

Sellers (Offers)

Price($)	Vol.	No.
1.8¢	52629	1

View Market Depth

No.	Vol.	Price($)
1	21591	0.015
4	285785	0.014
3	599984	0.013
2	249990	0.012
3	499995	0.010

Price($)	Vol.	No.
0.018	52629	1
0.019	1000	1
0.020	75063	2
0.021	193311	2
0.022	42431	2

Last trade - 16.12pm 06/09/2024 (20 minute delay)

SRI (ASX) Chart

Day chart unavailable

Keep posting fozzie.. or can we get you to be the media manager...

Red Mountain Mining: record gold prices, two projects, two greenstone belts

Perseus Mining boosts stake in Predictive Discovery to 19.9% as latter's flagship project stalls

Orthocell kicks off collagen-based dental bone repair product sales in Canada; eyeing next stop Brazil

Shekel Brainweigh investor presentation webinar – the future of retail automation

As Nvidia cools, we're looking to Aussie AI

CBA breaks trading record on strong day for Aussie financials

HotCopper users blunt as Biotron sinks -35%; long-awaited COVID drug results same as placebo

Metallurgical testing shows saleable copper and pyrite from QMines' Develin Creek project

Laramide sniffs prime Kazakh uranium, with agreement over 6000 square km land position

Week 36 Wrap: AI hype wave tested again; Oz per capita recession continues; AirTrunk’s $40B+ payday

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Keep posting fozzie.. or can we get you to be the media manager...

Top Stories

Red Mountain Mining: record gold prices, two projects, two greenstone belts

Perseus Mining boosts stake in Predictive Discovery to 19.9% as latter's flagship project stalls

Orthocell kicks off collagen-based dental bone repair product sales in Canada; eyeing next stop Brazil

Shekel Brainweigh investor presentation webinar – the future of retail automation

As Nvidia cools, we're looking to Aussie AI

CBA breaks trading record on strong day for Aussie financials

HotCopper users blunt as Biotron sinks -35%; long-awaited COVID drug results same as placebo

Metallurgical testing shows saleable copper and pyrite from QMines' Develin Creek project

Laramide sniffs prime Kazakh uranium, with agreement over 6000 square km land position

Week 36 Wrap: AI hype wave tested again; Oz per capita recession continues; AirTrunk’s $40B+ payday

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News