Ann: Dalgaranga Gold Project - Mineral Resource Estimate Update, page-143

I will go one further @calmbeforestorm - I think BGLs presentation (all Spartans should have a read) shows that in the end, high grade, thin vein gold even when mined at high rates (aiming for 1.6mta) is not cheap mining.... I am going to say it..... Never Never and Pepper are quite literally far better ore bodies, so much so, that whilst in the past I thought comparing SPR to BGL was a compliment to BGL.... not wanting to spruik or be a far boy, I think one day, SPR will be the peer BGL is compared to.

BGL 5 year plan... plus cap raising

BGL has raised in excess of (plus debt) of close to $682m to get to where they are now......
Yet they still need to spend upwards of $330m over the next 3 years to get to their new goal of 250k p.a.
The numbers... it's heading for over $1 billion in total! Makes.... DEGs costs look a lot less of an issue considering they are aiming for 600k p.a!
August 2020 - $131m.
Sept 2021- raised $131m (""" fully funded """)
Sept 2021 - $200m debt facility (now fully drawn)
Dec 2022 - $70m raised.
Today - $150m raised...



They are aiming for as many as 7 separate mining area, because, its just hard to get high volumes from thin veins. Compare that to Never Never and Pepper... and I am really just now fully letting it sink in how profitable SPR is going to be......................

They keep showing all the gold they already have, but.... then have this huge focus on exploration targets.... (sure, exploration is good, but... why are they not simply refining what they have and generating cash to internally fund their expansions??).

oh and the race is definitely on for this title...



Whilst I as always never offer financial advice, I feel very lucky to be a holder.
Good luck to all of us.