SPR 10.7% 98.5¢ spartan resources limited

Ann: A$80m Fully Underwritten Equity Raising to Accelerate Explor, page-101

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    LT wants to be king of Leonora. Next target there is pretty obvious - combined SLR/RED cap would be needed. Financially SLR / RED is an awful deal for SLR - RED hedge book get gets crappier day by day ATM - can debt. Despite this use of net debt figure a business that size needs working capital. SLR & SPR would have much better outcomes , but only if SL was driving the bus.
 
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