My friends at Spartan are on the receiving end of a corporate raid … with a bid/merger likely to follow in the short term.
Not only will this put a handsome valuation on the Spartan assets, but it will also create a great deal of liquidity that will be looking for a new home in an emerging high grade underground gold developer.
I have postulated before that I think Hawkes Point would likely be a seller in the second half of 2024/early 2025, if they were approached by a corporate willing to pay a respectable premium (say ~75 cents to a $1)
OBM are already in production (Spartan are not) but they both have similar strategies and outlook.
The inevitable takeover/merger of Spartan will give Hawkes Point a good reference point to establish what the right price may be for a strategic exit.
OBM Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
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