I too bought into Sipa(and still buying ie averaging down) because of Thaduna. But I understand the need for change in the current climate as the company needs to reposition itself especially if its going to attract new partners and funding. Any business needs to adapt to the changing landscape and circumstances, it also needs new blood and new thinking to keep it going stop it from because old and crusty like many of us SOB’s are.
I am no expert but there is a big difference between doing geophysics at Enigma compared to Uganda Difference is that there doesn’t seem to be the conductive black shales at Akelikongo, the large water flows and deeply weathering that Enigma has. Sulphides are shallow at Uganda.
If there is an economic deposit at Aklikongo, EM will pick it up that’s for sure, its our best, quickest and cheapest way of finding a deposit at the moment with limited funds. There are no guarantees here but its looking pretty good in my opinion. Sipa’s Kitgum Pader prospect, has got to be one of the best long term investments if you are interested in resource stocks and are tolerant to high risk for a potential exceptional return. First mover in a total unexplored terrain, its exactly what Sirius did at Nova, picked up the best bits for themselves and did all the hard ground work before zooming in on a deposit. There are not many companies doing the hard slogging in greenfields exploration especially in new exploration frontiers, simply because there are not many of the exploration frontiers left and the high risk involved.
The market didn’t care either when Sirius identified a strong conductors at Nova, it was only later when they did deeping drilling that the stock came alive. What was it 5c before it gapped up? and opened a 20c and we know the rest of the story.
This from Sipa's 5th of November 2014 announcement “The tenor of minerlisation is similar to that which preceded Sirius Nova Bollinger discovery which was made by diamond drilling a target identified by a ground EM survey”
I suspect early next year. Well not really, early next month diamond drilling will begin on the juiciest EM targets at Uganda.
Could be a very Happy New Year 2015
All my opinion only
GV
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