Marriage of convenience for Sipa and EL GAIA

SOME might call it a match made in heaven, but on the ground Sipa Resources International NL and EL GAIA Holdings Pty Limited have combined hard cash and considerable expertise.

The new joint venture company, called Sipa-Gaia NL, will be 99 per cent owned by Sipa and 1 per cent by EL GAIA.

The joint venture means the injection of $10 million by Sipa combined with EL GAIA’s extensive computing capabilities, large scientific database and world-leading knowledge in this field.

Sipa Resources managing director Michael Doepel said the deal gives the JV the opportunity to negotiate a data licensing agreement over certain geochemical and mineralogical databases of Rio Tinto’s exploration in Australia.

The JV’s target will be world-class base and precious metals’ deposits in Australia.