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SPR spartan resources limited

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Gold and macro environment, page-436

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calmbeforestorm

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16/10/24

17:35

Post #: 76153276
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Originally posted by Fisher85: ↑
Cheers@calmbeforestorm, I think the timing between the FS and FID won't be quite as short and whilst it would be nice to get a DFS in Q1 25 personally i think it is probably a bit unrealistic considering the timing for the 65,000m underground drilling program which i imagine they would want to analyse and include in any DFS. As a result i think we are more likely to get a PFS. I do agree with your timing of about 12 months to prepare the project for production once the trigger is pulled.

@Siva108 considering Euroz just did a full site tour with senior management they seem pretty well placed to generate a prospective timeline. No idea where you're getting your $1.20 PT from, current PT is $1.50 with an upside target of $1.66. I have also included a copy of the Euroz timeline to production below which doesnt seem unreasonable and aligns with what the company has stated in their presentations.
A key driver of value for SPR vs other developer stocks is the timeline. With a mill and an existing mining permit, the timeline to first gold is much faster than others.

I don't always think the Brokers get it right but it also isn't in their interest to be completely wrong either.
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If I was in Simon's shoes I would drill out the upper part of Pepper before an FID.

SPR Price at posting: $1.45 Sentiment: Hold Disclosure: Held
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Gold and macro environment, page-436

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