SPR 3.74% 97.0¢ spartan resources limited

Really!!!!! comparable, page-14

  1. 11,773 Posts.
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    Jack - DCN is worth $600m, GCY is worth $200m. Yet in 2 years time, their production profiles will be the same. GCY has 2 projects, first is Dalgaranga with a plant of 2.5mtpa, but can process above 3m tonnes with soft ore. Their second project will likely mimic the first, with another 2.5mtpa project producing at around 100k p.a as well. Bother projects already have resources of over 1m ounces. Management have a lot of stock and have proven themselves in the last boom (GIR sold off at the top, many made 30 bags or more).
    They did a further raising when they had issues with debt, so they are actually going to end up sitting at a net debt when the plant hits commercial production of around $40m. They control 2 green stone belts that are largely unexplored yet as I mentioned, already have 1m ounce resources in both belts. They will find a lot more gold and as others mentioned, soon hopefully, with 75,000 metres of drilling in just the next 6 months. Plus it costs GCY peanuts to drill aircore at Dalgaranga, so I am hopeful they are going to do another 75,000, after July.

    Above all, DYOR and let us know your thoughts.

    btw - Top reason I hold GCY is management, then the projects, they are a cut above most.
 
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