SPR 3.86% $1.37 spartan resources limited

Ann: $25 million Institutional Placement, page-122

  1. 859 Posts.
    lightbulb Created with Sketch. 307
    Yes, I read all his posts. I am OK to read more.

    I am all for drilling that will fill the mill in the first few years, but the deep gold isn't going anywhere and will be easier to find as a mine moves closer. It is fair to ask if drilling for ore which won't be mined for years using capital raise cash is a better plan than moving ahead on re-starting the mil and generating income some of which can be used to find mill feed which there is no rush for.

    It is almost irresistible to want to see some deeper holes (I am as curious as anyone), but what if they start missing? I will still think the gold is there somewhere. I would be interested to know what else they know about the deeper ground, maybe they have geophysics I haven't paid attention to which gives them some deeper targets. There is always going to be a temptation to add more to the resource before starting the mill ... I want to see a Never Never mine not a never never mine.

    I know new discoveries might change a mine plan, but that will remain true for the life of the mine. We are paying management enough to develop and explore at the same time I think.



 
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