SPR spartan resources limited

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$1.97

Ann: Updated Exploration target for the Never Never Gold Deposit, page-20

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Undaunted

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12/03/24

13:51

Post #: 72852447
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Originally posted by plough: ↑

I guess the management team are Looking at what happened to GCY last time they went back into production , and are planning ahead , just because mining is delayed does not mean the insitu value is falling due to time value if the overall resource increases more than that time value loss on an NPV basis .

I invested the little I could into GCY after disastrously investing in G1A a company that failed to do its exploration thoroughly went into production and now suspended from trading , I am seeing a similar train wreck at HGO, went back into production too early and now furiously trying to find higher grade not in the mine plan , and CAI is also another one with insufficient geological understanding of its ore body , may scrape through though because of POG .

One other thing the mine plan of a decline form Dalgaranga pit that they envisaged a year ago would be out of date now as the decline would probably start on the other side of Sly fox now , as the ore body has gone down another 500 meters and you would want to access the ore body from half way down to be able to operate two separate headings as Matty from Money of mines surmised .
Be a bit silly now having a decline half done that was in the wrong place .

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1 year ago SPR sucked $50m out of the market and took another $25m off the table in November to deliver a mine plan for a restart. We are now 3.5 months away from concluding the "18-month exploration and strategic plan" period and all I see SPR doing is drilling more holes to the centre of the earth, promotions and conference junkets. The company has now been listed for 14 years an continues to burn cash relentlessly.

SPR Price at posting: 63.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last $1.97		Change -0.025(1.25%)		Mkt cap ! $2.524B

Open	High	Low	Value	Volume
$2.01	$2.05	$1.95	$66.88M	33.90M

Buyers (Bids)

No.	Vol.	Price($)
5	77974	$1.96

Sellers (Offers)

Price($)	Vol.	No.
$1.98	85766	5

View Market Depth

No.	Vol.	Price($)
1	3842	1.955
3	26184	1.950
1	388	1.930
4	3274	1.900
1	531	1.880

Price($)	Vol.	No.
1.980	23050	1
2.050	6500	1
2.100	33690	3
2.120	495	1
2.200	16922	4

Last trade - 16.10pm 27/06/2025 (20 minute delay)

SPR (ASX) Chart

Ann: Updated Exploration target for the Never Never Gold Deposit, page-20

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Ann: Updated Exploration target for the Never Never Gold Deposit, page-20

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