SPR 1.17% $1.30 spartan resources limited

Ann: Exceptional new thick, high-grade intercepts, page-178

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  1. 4,412 Posts.
    lightbulb Created with Sketch. 3058
    All the best with WA8 mate, I have large holding as well but still under half what I have tied up in SPR.


    Keeping in mind this is all very much all back of the envelope using generalised estimates.

    BGL EV 2.3 billion
    SPR EV 800 million

    BGL Annual Production Profile 200k oz
    SPR Annual Production Profile 150k oz

    AISC both $1,500

    Margin both $2,000

    Operating Cash Flow
    BGL 400 million
    SPR 300 million

    EV/OPCF
    BGL 5.75 x
    SPR 2.6 x

    Now let's assume SPR needs to add 200 million of debt in order to get itself into production

    SPR EV 1 billion

    EV/OPCF
    BGL 5.75 x
    SPR 3.3 x


 
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