The Australian wrote it was a bit odd the unexpected $150m cut price SPP came the week before the three year mine plan gets released and bankers go on a site visit.
Meanwhile l:
.. “The five-year growth plan sees progressive mine and processing ramp up over the next three financial years to a steady state of 250,000 ounces per annum production rate in fiscal 2028 and fiscal 2029, reducing to a project AISC of $1500 to $1600 an ounce.”
Plus it had $362m of debt.
I dunno … maybe it wanted to secure that money and get settled before Spartan releases whatever news it has next and blows everyone else out of the water?
And maybe - as Bridget at the Australian seemed to intimate - it was simply because Macquarie decided it preferred shares to debt and played the ‘cruel landlord’ card?
Whatever I feel for all those there who have been punched in the stomach…. And hope it’s short term
…..and I don’t think Ramelius would want it over its’ hold in Spartan for all the reasons Spec mentioned plus the fact that even reduced to $1.44 priced shares the BGL market cap is still around $1.7b.
- just thoughts
cheers
SPR Price at posting:
$1.28 Sentiment: Sell Disclosure: Not Held
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