Gold stocks sentiment still is and has been in the toilet for a few years so no surprise what is happening to the SPR SP.
But sentiment may change if POG in $US does go much higher in 2024 and 2025 as many experts are forecasting. If POG does increase by a few hundred dollars later in 2024 and into 2025 some experts are suggesting mid and smaller gold stocks share prices may rise substantially eg 2-3 times. SPR fits right into that category especially if they start production in 2025.
Whether POG does rise significantly is the 64 dollar question.
SL has started the year doing his best to market SPR which is good but it will probably have a limited impact on the SP unless the POG does rise significantly or there are significant further assay results. SPR is a good story which will get a lot better if they achieve an MRE of 1.5 m of very high Oz at NN and similar Ozs at 4P, WW, Sly etc.
The exploration target will inform the market how much gold SPR believe they could have. If the target is of the order of 2.0 m Oz at NN and 1.5m Oz at Gilbeys then that may be a catalyst for a higher SP about the increase in SP may be limited until they prove they can achieve such a target,
SPR Price at posting:
46.8¢ Sentiment: Buy Disclosure: Held
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