It's not uncommon for mines to go into production before drilling out the entire orebody to its limits due to the time and cost implications (EMR and ADT as easy examples). Provided adequate DD has been done for the proposed mine plan this is quite common and shouldn't represent a significant risk.
No one, especially me is saying stop the drill rigs spinning today or even this or next month. But after the next MRE surely it should be part of the discussion? Remember the original target was a 5 year mine plan? the current MRE should already have that covered. i also don't think it's invalid to point out that what's in managements interest verse shareholders interests do not directly align here. Whilst management have done exceptionally well at defining this orebody and steering the company to this point they have already given away significant royalties from future production and paid themselves significant performance rights for doing so. They stand to benefit a lot more than us shareholders from a sale as opposed to going back into production. This seems to be reflected in the companies strategy.
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SPR
spartan resources limited
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Last
$2.07 |
Change
0.050(2.48%) |
Mkt cap ! $2.652B |
Open | High | Low | Value | Volume |
$2.02 | $2.10 | $2.01 | $34.89M | 16.89M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 278638 | $2.07 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.09 | 40971 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4000 | 2.040 |
1 | 10000 | 2.020 |
1 | 3000 | 2.010 |
8 | 21125 | 2.000 |
1 | 10000 | 1.980 |
Price($) | Vol. | No. |
---|---|---|
2.090 | 6000 | 1 |
2.100 | 25000 | 1 |
2.150 | 465 | 1 |
2.170 | 250 | 1 |
2.200 | 2353 | 2 |
Last trade - 16.10pm 20/06/2025 (20 minute delay) ? |
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SPR (ASX) Chart |