Ann: Sipa Reaches Agreement to Divest Thaduna, page-27

As a holder who bought several years ago after SFR's first strike and then from careful analysis of all holders in the area which drew me to Sipa's very promising Thaduna interests, I am naturally very sad to see them go, even if they are now more likely to be proven up by SFR. Along with many on this thread I have shared the tantalising results, the seemingly incomprehensible drilling issues and their disappointments but underlying this was a strong belief that there is something there if we just had the money to look for it. When I met Lynda some time ago it started to dawn on me that she did not see the value of spending what little money we have on an area where drilling is so expensive and the results so ill defined (even though it is prospective)…. and that she joined the company because of the Ugandan program ( I think it is reasonable to question how the previous exploration program was run, but that is history). Realistically Uganda is where the dollars should be spent and I think Lynda should be acknowledged for making some very hard decisions on achieving a focussed exploration program. We have moved from an approach which had multiple supposedly great prospects around the country, which mysteriously just faded into oblivion without explanation as interest went elsewhere. That has changed and I think for the good. Regarding the price, well SFR has been in the box seat for some time now and was always likely to pick us up if we couldn't afford to drill or found anything … and any of us would do the same no doubt. So I'm sad but optimistic about Uganda. I'd like to see a shake up of the Board with the dead wood resigning as they have been irrelevant for some time now.

Nijiman's summary is right on the money in my view.