AI assistant
AURAVELLE METALS LIMITED — Capital/Financing Update 2011
Feb 17, 2011
64463_rns_2011-02-17_84d4f407-79eb-465d-8c91-68c906e8384e.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
Sipa Resources Limited ABN 26 009 448 980
==> picture [67 x 59] intentionally omitted <==
18 February 2011
The Manager, ASX Company Announcements Platform PO Box H224, Australia Square Sydney NSW 2001
NORTHERN STAR EXERCISES OPTION ON ASHBURTON
Further to the announcement on Monday 14 February, 2011, the Directors of Sipa Resources Limited (‘Sipa’) now wish to advise that Northern Star Resources Limited (‘Northern Star’) has exercised the option to purchase Sipa’s Ashburton Gold Project (‘Ashburton’ or the ‘Project’).
Under the terms of the agreement, which is expected to complete on 21 March 2011, Northern Star will acquire all of Sipa’s legal and beneficial interest in E08/1649, P08/516, E08/1650, E52/1941, M52/639, M52/640, M52/734 & M52/735 (the ‘Tenements’) including the rights and benefits which Sipa is entitled to under Heritage Agreements and Native Title contracts, and all exploration, tenement management and mining information which is relevant to the Tenements. Northern Star will pay Sipa a royalty on future production as well as replace current environmental bonds, estimated at $445,000, and assume all rehabilitation obligations.
Dated 18 February 2011 Signed on behalf of the Board of Sipa Resources Limited Michael Doepel MSc, DIC, MAusIMM
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr M G Doepel who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Doepel is a full-time employee of Sipa Resources Limited. Mr Doepel has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Doepel consents to the inclusion in this report of the matters based on his information in the form and context in which they appear.
For more information: Media: Mike Doepel, David Utting Managing Director David Utting Communications Sipa Resources +61 (0) 416 187 462 +61 (0) 8 9481 6259 [email protected] [email protected] www.davidutting.com www.sipa.com.au
REGISTERED OFFICE: Ground floor 6 Thelma St. West Perth WA 6005 POSTAL ADDRESS: PO Box 1183 West Perth WA 6872 TELEPHONE: (08) 9481 6259 FAX: (08) 9322 3047 E-MAIL: [email protected]