You'd think the strategy of building high quality reserves that has delivered a 9 fold increase in the share price in a very short time would be the way to continue to build shareholder wealth considering the exceptional drilling results that continue or accelerate.
To dress it up for sale now and deliver perhaps a 20-25% return would be ok but what if they can delineate sufficient high quality feed for the mill to churn out 200,000oz for the next ten years? That's not out of the question considering the drilling program results to date. There's still so much unexplored dirt close to the mill. What SPR has already underscores the current value. The above production scenario would see perhaps a 70% return from here. It's effectively a free option for the upside which I would be keen to be on board for.
SPR Price at posting:
90.0¢ Sentiment: Buy Disclosure: Held
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