SRI 0.00% 0.7¢ sipa resources limited

not far away

  1. 131 Posts.
    Below is the response re activities from the MD

    To answer your questions in order:

    (1) There will be an extensive update on our and Newcrest's
    activities in our March Quarter ASX report - probably in the third week
    of April.

    (2) We are presently working in the field at Coolgardie
    (having been slowed for sometime by the last big rains) completing
    geological mapping and a surface geochemical survey. When we have the
    results - by Easter - we will make a decision whether to do geophysical
    surveys prior to more drilling. In any event more drilling is not far
    off.

    (3) Mining the Mount Olympus Cutback would be feasible if we
    could sell the gold forward at about A$620 - today it is about A$552.

    We will be having a very active exploration program over the next 3
    months, with drilling at:

    * Coolgardie nickel
    * Quinn Hills gold and nickel
    * Broken Hill basemetals and nickel-platinum-palladium
    * Table Hill nickel-platinum-palladium, and
    * Paraburdoo - Ashburton gold (Sipa and Newcrest)
 
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