SPR (ASX) Spartan Resources

Originally posted by sabine ↑

I have an announcement!
I am no longer banished from posting on this forum!
Whee
(And to think I voted against that name change! ).

…And if the post button that has suddenly materialised works, this means I now have opportunity to say thank you to all the great posters here whose educated and objective posts have kept me on track for a long time with this company (since even before I was ditched from the forum for treading too much on an ex-employee’s toes).

So THANK YOU to those of you who well know who you are : ).

And I’ll try to refrain from posting needlessly now my ‘voice’ has been returned but - on the subject of the new name - Spartan Resources - and those gin labels hanging off the necks of all of the Dalgaranga deposits…
The Spartans were just not into it!
Gin wasn’t invented yet but according to a Reddit authority [ref]
… “Xenophon, an exiled Athenian who ended up living in Sparta and sending his sons through the Agoge (Spartan military training school) wrote that drunkenness was frowned upon, wine was drunk, but watered down and in limited quantities, and that helots (a slave class in Sparta) were occasionally gotten drunk by old Spartans and made to sing and dance, to show younger Spartans how shameful and embarrassing drunkenness was, as the Spartans were all about self-control …”

So just the tonic?
….Which may be on the way ?

— From the day of the EGM at which the name change (along with other matters) was approved:
https://www.livewiremarkets.com/wires/gold-selloff-gives-more-time-for-eagerly-awaited-consolidation

Gold selloff gives more time for eagerly-awaited consolidation
Predators eyeing likes of Gascoyne, Bellevue could win from dip. DevEx's uranium leverage and new battery for Quebec lithium explorers.
18TH AUG, 23

BARRY FITZGERALD
Independent Journalist

There was lots of excitement in the ASX gold space a month ago on the basis that interest rates had turned.
Gold was meant to be charging off to more than $US2,000/oz and gold equities would respond accordingly.
It hasn’t happened, not yet anyway. Gold was friendless during the week and was last quoted at $US1,893/oz, down about $US70/oz on its level a month ago.
Although the fall is relatively modest, and the Aussie price is a fantastic $2,957/oz thanks to the lower Aussie dollar, gold equities have been smashed.
On the basis gold will bounce higher once there is a pivot to interest rate cuts, and the Aussie dollar remains weak, it stands to reason Aussie gold stocks are better buying than they were a month ago.
But it is not a buy-the-sector thing until interest rates turn and the US dollar comes off. It is more of a stock picker’s market.

Gascoyne (ASX: GCY) reflects what is going on. It has been swimming against the tide in the past month, rising from 18.5c to Thursday’s close of 28c.
Volumes in the stock have been particularly strong this week.
Gascoyne has brought itself back from the brink by making the high-grade Never Never discovery (720,000oz at 5.85g/t) in the shadows of its currently mothballed Dalgaranga mill, which used to just get by on less than 1g/t dirt.
So Dalgaranga is on its way to coming back as a high grade producer without the cost or risk of having to build a mill.
That in itself explains the buying by high net worth types attracted by the renaissance story.

But the action this week in the stock suggests there could be corporate activity afoot. Regionally close mill owners Ramelius (ASX: RMS) and Westgold (ASX: WGX) are being mentioned as possible players, as are Gold Road and Regis.

As mentioned here previously, Bridge Street Capital’s Chris Baker reckons Gascoyne has a potential M & A target price of 65-70c…..

Expand

"As mentioned here previously, Bridge Street Capital’s Chris Baker reckons Gascoyne has a potential M & A target price of 65-70c….'

As a shareholder I like the sound of that , but cannot see it as that would mean an EV higher than SLR (which has around $400M in cash , bullion and carried forward tax losses that can be offset , and without the Never never royalty burden going forward .
70 cents would also be around the same EV as what WGX has - unfortunately not going to happen IMHO.

No.	Vol.	Price($)
2	100485	72.0¢

No.

Vol.

Price($)

100485

72.0¢

Price($)	Vol.	No.
73.0¢	120517	2

Price($)

Vol.

No.

73.0¢

120517

No.	Vol.	Price($)
2	100485	0.720
3	29900	0.715
9	156319	0.710
1	800	0.705
9	93312	0.700

No.

Vol.

Price($)

100485

0.720

29900

0.715

156319

0.710

800

0.705

93312

0.700

Price($)	Vol.	No.
0.730	65000	1
0.735	191800	4
0.740	126000	2
0.745	206426	6
0.750	661393	9

Price($)

Vol.

No.

0.730

65000

0.735

191800

0.740

126000

0.745

206426

0.750

661393

(20min delay)
Last 72.0¢		Change -0.015(2.04%)		Mkt cap ! $795.3M

Open	High	Low	Value	Volume
73.5¢	74.5¢	72.0¢	$2.719M	3.728M


Last 72.0¢		Change -0.015 ( 1.37 %)
Open	High	Low	Volume
73.5¢	74.3¢	72.0¢	472693
Last updated 15.59pm 22/05/2024 ?

Spartan Resources, page-5

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