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2.90%

71.0¢ spartan resources limited

Putting margins aside both those companies have management...

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bcjk3

1,587 Posts.

1731

27/03/24

16:37

Post #: 73087433
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Originally posted by calmbeforestorm: ↑

Another example is CMM where the SP has escalated a lot as well but is much lower grade (closer to 1g/t) and has an ASIC a bit higher than EMR ie EMR has an ASIC about $A1,200 and CMM is closer to $1,300. Both EMR and CMM have annual production of between about 100k Oz and 120k Oz.

What you failed to note with EMR (and CMM) is that they are rated highly as they have other projects which will be producing gold within circa 2 years which will send their production over 200k Oz pa. So it is not a like with like comparison to SPR.

BGL in my view is a better comparison with a high grade UG mine, with SPR possibly having a similar production profile. They may have an ASIC below $1,200 - the DFS in June 2022 had an ASIC of $A1,000 to $1,100 up from the $1,014 in September 2021. To date their execution has not had any red flags.

And I don’t necessarily agree that SPR will not have an ASIC like EMR or CMM. I believe it is possible they will have an ASIC as low as $1,300 or even lower due to a number of factors which I have mentioned in previous posts.

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Putting margins aside both those companies have management premiums caked into the valuations and rightly so.

SPR Price at posting: 63.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 71.0¢		Change 0.020(2.90%)		Mkt cap ! $784.2M

Open	High	Low	Value	Volume
72.0¢	73.0¢	71.0¢	$4.856M	6.769M

Buyers (Bids)

No.	Vol.	Price($)
6	140489	71.0¢

Sellers (Offers)

Price($)	Vol.	No.
72.0¢	22742	1

View Market Depth

No.	Vol.	Price($)
6	140489	0.710
1	10000	0.705
6	127218	0.700
5	116235	0.695
8	239083	0.690

Price($)	Vol.	No.
0.720	22742	1
0.730	128500	9
0.735	57210	2
0.740	6020	4
0.745	90000	2

Last trade - 16.10pm 20/05/2024 (20 minute delay)


Last 71.5¢			Change 0.020 ( 3.35 %)
Open	High		Low	Volume
72.0¢	73.0¢		71.0¢	1543701
Last updated 15.59pm 20/05/2024 ?

SPR (ASX) Chart