Sipa Resources closed nearly 80% higher on Friday after reporting results from a partially completed drilling program at its Kitgum-Pader nickel-copper project...
John Robertson
PortfolioDirect
Sipa Resources closed nearly 80% higher on Friday after reporting results from a partially completed drilling program at its Kitgum-Pader nickel-copper project in Uganda. The majority of results are still to come. Sipa Resources has been one of the stocks in the PortfolioDirect exploration (Phase I) model portfolio. Without strong follow through results which clarify the size of the potential resource (as well as the grades), similar exploration results as these from other companies have resulted in prices retracing subsequently. One reason is the financial capacity of companies to go the next step. Sipa had $1.1 million in the bank at the end of December with expected expenditure in the March quarter of $1.3 million. After Friday, the price has reached the upper end of an established trading channel which probably warrants cutting back on this position.
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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business strategist and investment market professional for over 30 years after starting his career as a Commonwealth Treasury economist in Canberra. Since being Australia's top-rated commodities analyst and chief economist at one of Australia' leading stockbroking firms, he has advised companies across the mining, consumer products, IT and biotech sectors on their equity market relations. He leads the firm's investment evaluation and security structuring activities on behalf of the Australian Small Scale Offerings Board (ASSOB), the world's first equity 'crowdfunding' investment platform. John Robertson discusses the interaction of mining and investment markets in his weekly 'From the Capital' column in Mining Journal.
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
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