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

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