SPR spartan resources limited

Thanks SpeculatorThe HY report saidand having reread the...

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    Thanks Speculator

    The HY report said

    https://hotcopper.com.au/data/attachments/2974/2974622-1f1e650306242864fa145c2f8f4e0f0f.jpg

    and having reread the Canacord note (which is mostly as expected as you say) a few times, this analysis is a bit strange to me:


    https://hotcopper.com.au/data/attachments/2974/2974625-c5f6fd35173ed0bf80a458bf84dc9ce7.jpg

    It seems they are saying: More mined ore (ignoring waste) AND higher feed grade on flat feed volume THEREFORE cherry picking ore CONCLUSION need to spend to prove more good quality ore below or nearby to keep the performance going medium term.

    Maybe they know something we don’t but taking the report at face value, I would’ve characterised the situation as: Stage 2 cutback means more waste as well as more ore being mined AND ore now better quality since coming from Gilbeys fresh rock only AND plant working at capacity GIVING consistent grades processed CONCLUSION confidence to increase value of asset by spending on extended mine life.

    Am I missing something?

    thanks
    pb
    Last edited by pbawley: 05/03/21
 
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