While Spartan has a ripper resource, what skills set does the company have in developing a mine? As the Gascoyne team clearly couldn't execute this at Dalgaranga. And to date SPR have only been about drilling.... and I think this is a key often overlooked item in valuing a merger like this which yeah, maybe it doesn't have a specific monetary value. But having a proven record of how to extract real SH value from a resource and return it back to 'all' SHs is invaluable.
This is an activity that MZ's RMS team has now executed over and over and over again through it's strategy to acquire quality resources and then develop mines efficiently to ensure it translates into SH value. Being a previous holder of Breaker & Musgrave (and aswell as long term RMS holder) I've seen this happen firsthand (and at the time I remember hearing Spectrum holders complain about the Penny acquisition being too low, but now RMS has transformed this 'resource' into an actual pile of real cash for them as RMS SHs to benefit from) and as such over the years I've become a strong advocate for MZ's management & leadership. As since these acquisitions I've watch my converted RMS shares translate into a real SP value (now with added dividends).
Vote yes.... and let MZ and the team turn 'potential' into reality
Full disclosure: I'm only recently an SPR holder, I bought in a few weeks back when it briefly dipped below $1.30.
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