Price of gold having a bumper night on the futures exchange rising $30 from low of US$2313 to $US2343 at time of posting. This follows Unemployment Claims higher than expected in the US at 231k new claims over the last week. Not a disaster but it is the highest level for over a year, and along with GDP weakness and easing of oil prices, could raise expectations for interest rate cuts in the US sooner rather than later.
As for Spartan, I’m a little surprised we haven’t kicked on quickly after the capital raise announcement but that’s the way it goes sometimes and we’re not privy to the goings on behind the scenes. There are a lot of moving parts here, including any potential overhang weighing on the share price, takeover speculation and the bots are still active as far as I can tell. As for the recent announcement, I was pleasantly surprised and I wasn’t expecting much after the delays getting assays checked. I’m not sure the market is pricing in the enormity of continuing to hit high grade ounces at NN one kilometre below surface. I believe NN is a marvel of a deposit and as rare as they come. The General Manager Exploration and Development agrees. This is a (naughty) quote from him about a month ago…
”Hitting Never Never >1km depth proves Dalgaranga is a multi-million ounce high-grade system, only limited by drilling”.
Getting the second high grade hit at Pepper was excellent, as was the high grade assay from West Winds. Both deposits maybe getting better at depth.
Anyway, a lot to look forward to and an embarrassment of targets to drill out.
Gold price crazy strong + balance sheet riches + more discoveries and ounces anticipated just tells me we are a billion dollar plus gold miner in the making.
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