Ann: Drilling hits visible gold over 1km deep below Never Never, page-44

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Peppie

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09/04/24

13:01

Post #: 73257641
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Originally posted by Joelstar: ↑

Very happy to be adding back a considerable portion of the shares I'd previously sold.
Doubling the strike width at Sly Fox and increasing NN mineralised zone by 400m below the existing resource is good news.
Yes the high grade NN core looks to be somewhat pinching in, however it will be difficult to define the true extent of NN's strike length at depth without getting underground diamond rigs into an UG exploration platform for tight space drilling along strike.

The story has consistently improved over last few months.

* Spartans existing Infrastructure replacement value has now meaningfully increased (potentially doubled) as shown by McPhillamys recent capex blowout (over double RRL's initial calcs).
* High gold price greatly improves margins and overall economics for the projects upcoming preliminary economic assessment (improving funding options).
* There are now literally four potentially mineable underground deposits.
* Mine planning team greatly strengthened with the addition of well-regarded COO.
* Drilling about to commence from surface to test along strike up to Golden Wings (there's a high potential they find cheap mineable ounces to fill the mill and reduce upfront capex expenditure).
* Never Never, West Winds and Sly Fox have had their strike lengths meaningfully increased, therefore adding plenty of extra mine sequencing optionality.

GLTAH
DYOR

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Regis Resources - McPhillamy's cost estimate - 2017.

April 2024

The days of building gold plants could be done.

SPR Price at posting: 60.5¢ Sentiment: None Disclosure: Held
12 Upvote

2 Great analysis

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