SPR spartan resources limited

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$1.97

Ann: Exceptional new thick, high-grade intercepts, page-175

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JollyJohn

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20/06/24

11:33

Post #: 74406020
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Originally posted by Joelstar: ↑

It's much easier to hold onto an investment when you do comparable analysis.
Recency bias often gives investors the perception of overvaluation.
Yes Spartan was 12c a year ago but was that a fair valuation at the time?

For those doubting Simon's ability to extract at least 1 million tons of ore per annum out of NN, I suggest you take a look at Alkanes Rosewell underground section of their orebody. Rosewell is steeply dipping, lowish grade compared to NN and has similar geometric dimensions to NN. Rosewell will be mined at run rate of roughly 1.1/1.2mtpa over the next 3 years.

Let's forget all the other Spartan discoveries.
NN mined at 1mtpa at a grade of 5gt = almost 150k ounces at a recovery rate of 92%
At an AISC of $1,500, we are talking about operating cashflows in and around 300 million dollars per annum at today's gold price.
Does a 780-million-dollar EV sound overvalued?

Expand

Also, the Never Never deposit can be mined from two fronts. From the surface downwards, and from the base of the Gilbey's Pit which would help with bottlenecks.

GLTAH, DYOR and Happy Trails.

SPR Price at posting: 80.5¢ Sentiment: Hold Disclosure: Held
9 Upvote

0 Great analysis

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(20min delay)
Last $1.97		Change -0.025(1.25%)		Mkt cap ! $2.524B

Open	High	Low	Value	Volume
$2.01	$2.05	$1.95	$66.88M	33.90M

Buyers (Bids)

No.	Vol.	Price($)
5	77974	$1.96

Sellers (Offers)

Price($)	Vol.	No.
$1.98	85766	5

View Market Depth

No.	Vol.	Price($)
1	3842	1.955
3	26184	1.950
1	388	1.930
4	3274	1.900
1	531	1.880

Price($)	Vol.	No.
1.980	23050	1
2.050	6500	1
2.100	33690	3
2.120	495	1
2.200	16922	4

Last trade - 16.10pm 27/06/2025 (20 minute delay)

SPR (ASX) Chart

Ann: Exceptional new thick, high-grade intercepts, page-175

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Ann: Exceptional new thick, high-grade intercepts, page-175

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