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DEVELOP GLOBAL LIMITED — Regulatory Filings 2012
Jul 12, 2012
64801_rns_2012-07-12_ed9f8f9c-bbe9-4ba7-9aa1-60cbb20a6f26.pdf
Regulatory Filings
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Sipa Resources Limited ABN 26 009 448 980
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13 July 2012
Sipa Divests Panorama Exploration Project Interest
to Venturex Resources Limited
Sipa is pleased to announce that the Panorama Exploration Project Joint Venture partners (Sipa 40% - CBH Resources Limited 60%) have entered into a binding conditional agreement (Sale Agreement) with Venturex Resources Limited (Venturex), whereby Venturex will acquire the Joint Venture partners interest in the Panorama Exploration Project tenement package, for the consideration of $2 per dry tonne of all ore mined and treated by Venturex.
In addition, Sipa will receive $2.00 per dry tonne of ore mined, capped to a maximum of $3.7 million, from the Sulphur Springs Copper-Zinc Deposit in tenements contiguous with, and to the north of, the Panorama Exploration Project tenements.
This divestment is consistent with Sipa’s strategy of concentrating our exploration efforts on our 100%-owned Thaduna Copper and Woodline Gold Projects.
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: Mike Doepel, Managing Director Sipa Resources +61 (0) 8 9481 6259 [email protected] www.sipa.com.au
REGISTERED OFFICE: Ground Floor, 6 Thelma Street, 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]