Hopefully today’s drop in price provided the opportunity that some outsiders have been awaiting so as to enter.
And hopefully enough will enter that that key horizontal resistance level of 61c will be back to being respected …soon!
(by close today would be nice!)
Thank you very much for your charts Saragian - particularly this one because I decided that today may be providing an opportunity for some of us ‘insiders’ (
as in already on board here rather than being Simon & co’s ‘pillow friends’
and added a few to my holding.
NB; Management comment to today’s news gave me confidence as well;
Management Comment
Spartan Managing Director and Chief Executive Officer, Simon Lawson, said: “This latest intercept in drill-hole DGDH064 is another fantastic development in our ongoing systematic exploration of the Never Never mineral system.
“While it's safe to say this is the deepest drill-hole we will be drilling from surface for the time being, we're absolutely delighted to see a plus-20-metre down-hole intercept of typical Never Never-style mineralisation with visible gold logged in two areas.
“The intercept – which has all the characteristic attributes of high-grade Never Never mineralisation with heavy silica flooding, sericite/biotite alteration and visible gold – is located approximately 245m down-plunge of drill-hole DGDH052, which returned a Top 3 all-time Never Never intercept of 11.55m @ 36.77g/t gold.
“We are confident this latest intercept takes the consistent down-plunge extent of Never Never mineralisation beyond 1,000m vertical depth, more than 1,250m down-plunge and, most importantly, extends the mineralisation to more than 400m below the existing 952koz high-grade Mineral Resource. We eagerly await the assay results from this deepest intercept.
"The Spartan investment proposition continues to strengthen with each drill-hole.
“DGDH064 was drilled into an area that we expect to be mining many years in the future, and provides further clear evidence of the sheer scale and endowment of the deposit.
“Meanwhile, our targeted drilling aimed at converting the Inferred component of the deposit to the higher-confidence Indicated classification is going very well, as shown by the continued high-grade intercepts in today's announcement.
“Plus we have essentially doubled the strike length of mineralisation at Sly Fox with just a couple of holes! Exciting times!
“It's important to point out that we are not just an exploration company; we are focused on building a long-term business – one that is strongly focused on delivering shareholder returns and maximising return on capital.
”The recent appointment of Craig Jones, a highly experienced mining engineer and proven team and mine-builder, as our new Chief Operating Officer should give shareholders confidence that we are now systematically working our way from what was originally a rescue plan to what will be a solid and sustainable high-grade mine plan.
“
Together, Craig, I and the Spartan team will continue to drive and drill hard to create a number of exciting development pathways to bring high-grade ounces to the mill and lay the foundations for a long-life, high-margin gold business.”
As one who was very cynical of historic Gascoyne Resources’ bouts of exciting ‘news,’ I remained jaded about Simon and the ‘super fantastical’ NeverNever for a long time after the name change.’
Now I trust him and I don’t think he has any need to beat anything up so when he writes these results are a “fantastic’ exploration development that doubles the strike length of Sly Fox, I’m happy too.
So I guess I am one of those investors who is developing confidence that the Spartans .
.” are now systematically working our (their)
way from what was originally a rescue plan to what will be a solid and sustainable high-grade mine plan.
Good luck to all newcomers and other ‘soft-nosed’ investors and I hope the hard-nosed ones play it hard too, and had maybe taken things up just a few notches too high in the hope of reaping a good harvest today (and after if the price stays lower).
Cheers and GLTA
(And thank you again Maestro for all your ‘lines in the sand’ {or the gold dust as the case may be!}
(20min delay)