Ann: Sipa Reaches Agreement to Divest Thaduna, page-28

G'day Nijiman.

You say this may save us from another round of dilution but just what do you think has happened with this action announced today.

A week ago Sipa owned one of the largest tenement areas in a very promising and somewhat proven new copper area in Australia. Now Sipa does not own those tenements and instead gets $2,000,000 which will be quickly spent by an over manned board on the next flavour of the month for Sipa namely Uganda.

I would call that massive dilution by reduction of assets.

Lockitt