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Sipa sells and signs alliance

SIPA Resources has announced it has sold its Mount Olympus gold treatment plant in the Ashburton region of Western Australia for $2.5 million and signed an exploration alliance with Newmont Exploration, a wholly owned subsidiary of Newmont Australia. The local explorer sold the treatment plant to Austindo Resources Corporation, which plans to move the Olympus plant to Indonesia, and is required to remove all infrastructure from the site. Sipa expects the sale to save it an additional $400,000 each year in care and maintenance costs. Under the exploration agreement, Newmont will fund Sipa for a minimum of two years to manage a generative joint venture. The purpose of the joint venture will be to identify new gold projects within Australia using a combination of the companies’ geoscientific databases. Sipa will hold a 20 per cent interest in the event of a decision to mine.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/08/18

1 year TSR5 year TSR
308thPlatina Resources18%10%
416thSipa Resources0%-33%
456thRey Resources-3%-3%
606thBlack Rock Mining-28%11%
718thHorizon Gold-48%0%
737 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

02/11/17
$2k Bought
02/11/17
$15k Bought
02/11/17
$15k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

212th↓Platina Resources$160k
213th↑Horizon Gold$158k
214th↑Sipa Resources$155k
215th↑Rey Resources$145k
216th↑Black Rock Mining$145k
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Sipa Resources

337thLynda Burnett$338k
578thTara Robson$205k
714thCraig McGown$83k
Ranked by total remuneration from all listed WA companies

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