SPR 2.28% $1.29 spartan resources limited

Ann: Drilling hits visible gold over 1km deep below Never Never, page-15

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  1. 12,118 Posts.
    lightbulb Created with Sketch. 6927
    Great to see the deepest hit. Basically means the orebody will have a 10+ year mine life minimum.

    Also pleased to see confirmation that Sly Fox will be able to soon be included in a future mine plan, even if many seemed to think SL had hinted Sly Fox could be a duplicate of Never Never (it still could be... they have only drilled 2 holes!). I am sure the rigs will keep focusing on Sly Fox either way.

    Great to see the air core rig coming to start testing along the Golden Wings Trend.

    That all being said, I think today will be an unpleasant one. The reality is, SPR has been running so strongly, that anything other than perfection is going to cause more and more violent swings in the share price. To be clear, personally, I won't be selling either way, I am holding to the end, but I imagine some.... just trying to be brutally honest here, will take some profits at the least today....

    At a glance, the exploration target for Never Never is likely to come in on the low end. I am confident it will still be mined, but... as you can see, the team think the core super high grade section is narrowing.

    https://hotcopper.com.au/data/attachments/6088/6088715-d50701b157a6678c4cfa13a7c8afe80e.jpg

    The sheer potential of what SPR has proven up already provides for me, a simple base valuation around the current market cap. Now it's just a matter of what else they can find to bolster the mining studies they have inhouse already.

    Looking forward to seeing what this hole finds.

    https://hotcopper.com.au/data/attachments/6088/6088725-33cfd4face89019a91457698c89c89da.jpg

    Good luck to all holders.
 
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$1.29
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