SPR

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$1.32 spartan resources limited

I watched bill as well. Just shows takes a while for people to...

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Baraka

1,681 Posts.

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12/06/22

10:59

Post #: 61962898
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Originally posted by triage: ↑

wassa

The amazing thing for me is that Gascoyne remains a separate entity, what with two much larger entities right next door to it and screaming for extra milling capacity (Ramelius and Westgold). Seeing how close Westgold got with its 52 cents offer (?? is that price correct??) earlier in the year I would have bet that that would be tried again. 426m issued shares at $0.52 = $221m which is better than a 100% of the current share price. So for the price of a brand new operating mill that is producing now rather than 3 years time the buyer would get a business generating $10m free cash a quarter from near mill mines plus two late stage prospective projects at Yalgoo and Glenburgh.

I can only guess that the Germans have eyes firmly fixed on an independent Gascoyne ten bagging rather than Gascoyne being taken over for a single bagger. My understanding is that they still have a blocking stake so no point in Gascoyne or Westgold having a crack at Gascoyne without the Germans on side.

Listened to Bill Beamont selling stake knives over his Develop "shop" at the Gold Coast conference this past week. Amongst all the blarney he gave details of the Woodlawn project near Canberra that Develop recently picked up for $30m. He reckons about $345m capex had gone into the project and lots of the equipment were still in its plastic wrapper. Everything pretty much ready to go, including the underground infrastructure, and that the previous operators had had bad luck at the wrong time and had just run out of money. By the way Bill sells it the deal could in itself almost be a company maker. If so, another lucky break for him. The thing is he had about 16 lucky breaks in converting Northern Star from a $10m tiddler to a $10b monster (16 times he did corporate deals at Northern Star).

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I watched bill as well. Just shows takes a while for people to see value. 16 deals is more than just luck.

GCY Price at posting: 25.0¢ Sentiment: Buy Disclosure: Held
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Last $1.32		Change 0.075(6.05%)		Mkt cap ! $1.463B

Open	High	Low	Value	Volume
$1.32	$1.36	$1.30	$9.643M	7.293M

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No.	Vol.	Price($)
1	38428	$1.32

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Price($)	Vol.	No.
$1.33	21200	2

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No.	Vol.	Price($)
1	38428	1.315
4	62500	1.310
2	23000	1.305
11	178417	1.300
1	7000	1.295

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1.330	2000	1
1.335	51000	1
1.340	10000	1
1.345	14555	2
1.350	5000	1

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