The window of opportunity on a takeover at $1B or less may be shut out very quickly. Shares on issue post capital raise are 1,105,000 (expected), so offer would be at around the 90c mark or in the vicinity of a 50% premium to the share price when it reopens to trading. Nothing to sneeze at but given the circumstances of a heavily cashed up explorer, highly prospective tenement, now revealing high grade and generally under-explored at depth, an aggressive (nothing to lose) management style and a rampaging POG, I would humbly suggest a 50% premium maybe not be enough at this opportune time for Spartan.
Next assays will likely tell the story. More good hits at NN and confirmation that Pepper is not a one hit wonder and we are off to the races - the 60 and 70cent levels could be taken out in a couple of sessions imo. Of course, if the assays don’t pan out as we’d like, a 90c takeover would look very appealing.
My opinions only.
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$1.28 |
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Open | High | Low | Value | Volume |
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Buyers (Bids)
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---|---|---|
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Sellers (Offers)
Price($) | Vol. | No. |
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4 | 66553 | 1.270 |
7 | 46708 | 1.265 |
5 | 91734 | 1.260 |
3 | 80306 | 1.255 |
Price($) | Vol. | No. |
---|---|---|
1.280 | 134177 | 3 |
1.290 | 115162 | 5 |
1.300 | 122714 | 3 |
1.305 | 40272 | 2 |
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