Spartan Executive Chair, Mr Simon Lawson, commented:
“The December Quarter marked the culmination of what was, by every measure, a truly outstanding year for Spartan in 2024.
One of the key highlights of the quarter was the delivery of a substantial increase in the high-grade Mineral Resource at the Never Never and Pepper deposits to a combined 2.37Moz at a grade of 8.66g/t.
From its discovery in April 2024, the growth in the Pepper Resource has been amazing, with Pepper now sitting at 873koz at a very impressive grade of 10.31g/t!
“The recent discovery of the Freak prospect, sitting 110 metres from Pepper, has continued our phenomenal track record of exploration success – supporting our belief that the emerging high-grade Dalgaranga Structural Mineralised Corridor hosts substantial mineral endowment.
Heading into 2025, this gives us great confidence that we are exceptionally well placed to make further significant discoveries and deliver more resource growth.
The geology team is busy planning the drilling program for the year ahead and is excited to commence underground drilling in the March Quarter.
“In parallel with our exploration efforts during the quarter, we continued to make tangible progress towards transitioning Dalgaranga into a long-life, high-grade underground mining centre through the safe and efficient progression of the Juniper Decline.
We are steadily building our site operational and support teams as activity on site increases.
“Underpinned by the December 2024 Mineral Resource update, we are moving to finalise our feasibility studies in advance of a production re-start decision during the year.
Our approvals team and consultants did a fantastic job in obtaining the key approvals needed to commence underground mining and to be able to process high-grade ore through our existing plant.
“Our balance sheet was bolstered in December following the completion of a well supported $220 million placement that enables us to rapidly progress many of the key workstreams required to bring Dalgaranga back into production.
Existing and new shareholders provided strong support for this capital raise and their support is, as always, much appreciated by all of us at Spartan.
“December also saw further key changes to our board and senior leadership team, with experienced company director and finance executive Anna Neuling joining the Board in an independent non-executive director capacity and my transition from Interim to permanent Executive Chair.
These changes, along with other appointments last year, have strengthened the board whilst ensuring an appropriate balance of skills, experience and capabilities and enhanced corporate governance.
We welcome Anna to the Spartan team and I would like to thank my fellow directors for expressing their confidence in me to lead both the Board and the Company in our next exciting phase of growth and development.”
(20min delay)