sipa

PERTH, June 16 AAP - The world's largest gold producer Newmont Mining Corporation has chosen Perth-based junior Sipa Resources Ltd as one of its key exploration partners in Australia.

The new alliance will scour the exploration databases of both companies to generate new gold projects.
Sipa will manage the alliance while Newmont will provide funding for two years.
US-based Newmont will also fund all exploration through to a decision to mine.
Sipa can develop any project Newmont considers too small and pay a two per cent royalty.
Sipa managing director Mike Doepel said the alliance expanded Sipa's exploration coverage at a very low risk.
"It validates our exploration capabilities, elevates our gold activities and increases the probability of Sipa gaining exposure to large world class gold plays," Mr Doepel said.

The current projects of both companies are excluded from the alliance.
Newmont and Sipa already have a joint venture together in the Ashburton region of Western Australia.
Sipa has a suite of exploration projects along with varied partners.
Earlier this year Sipa sold the Sulphur Springs copper zinc project in Western Australia, netting $2 million.
Shares in Sipa gained 0.6 cents, or 10 per cent, to 6.6 cents.