Sipa Resources Limited ( (AU:SRI) ) has issued an update.
Sipa Resources Limited has acquired full ownership of the Barbwire Terrace Base Metal Project by purchasing Buru Energy Limited’s 50% share. This strategic move allows Sipa to further explore and develop the project, which targets Mississippi Valley style zinc-lead-silver deposits. The acquisition involves granting Buru Energy a 0.6% Net Smelter Return royalty, with an option for Sipa to repurchase the royalty for $600,000. This acquisition positions Sipa to intensify its exploration activities and supports its business development strategy by refining and prioritizing exploration targets.
More about Sipa Resources Limited
Sipa Resources Limited is a company operating in the mining industry, primarily focused on exploring and developing base metal projects. The company targets zinc, lead, and silver deposits, with a significant focus on the Barbwire Terrace Project in Western Australia.
YTD Price Performance: 30.0%
Average Trading Volume: 340,749
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$3.7M
For detailed information about SRI stock, go to TipRanks’ Stock Analysis page.