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Spartan Resources Ltd

www: spartanresources.com.au   email: admin@spartanresources.com.au
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
ASX:SPR AUD

Description

Spartan Resources Ltd are a gold focused junior, late stage developer with three exploration properties in Australia. They have approximately 1.9Moz. of gold in the reserves and resources category of which 1.1Moz. are in the measured and indicated category. They have a market capitalisation of ~A$499.58M which is a rise of roughly 58% over the last five months. As of 12/14/2023 they have no debt and ~A$67.04M cash. They have 954M shares outstanding and trade on the Australian Stock Exchange.

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General Details

Financial 12/14/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
MCap (FD): $316.04M $499.58M 12/14/2023 $183.54M
Total Assets: $131.34M $134.08M 12/14/2023 $2.74M
Total Liabilities: $78.15M $79.78M 12/14/2023 $1.63M
Current Assets: $3.28M $67.04M 04/18/2024 $63.76M
Current Liabilities: $38.74M $39.55M 12/14/2023 $0.81M
Total Debt: $0.00M $0.00M 12/14/2023 $0.00M
Cash: $3.28M $67.04M 04/18/2024 $63.76M
Enterprise Value: $312.76M $432.54M 09/16/1983 $119.78M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to
Cash Flow Ratio:
n/a n/a never 0.00
Finance within 1 year: Yes Yes 12/14/2023 n/a
Misc 12/14/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 954,000,000 954,000,000 12/14/2023 0
Shares (FD): 1,035,000,000 1,035,000,000 12/14/2023 0
Insider Ownership: n/a n/a never n/a
Dividend (Annual): n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2024 12/14/2023 n/a
Production (Gold Eq Oz.): (guess) 
0
(guess) 
0
12/14/2023 0
Production (Silver Eq Oz.): (guess) 
0
(guess) 
0
12/14/2023 0
Initial CapEx (Outstanding): $10.00M
3.16% of MCap
$10.00M
2% of MCap
12/14/2023 $0.00M
Funding Option: n/a n/a 12/14/2023 n/a
Documentation: none FS 04/18/2024 n/a
Future MCap Modifier: 0.15
Developer: Strong Path to Production
0.15
Developer: Strong Path to Production
12/13/2023 0
Cash Flow Multiplier: 8 8 12/13/2023 0.00

Resource Data

GOLD 12/14/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 0.60M 0.60M 12/14/2023 0.00M
Measured & Indicated: 1.10M 1.10M 12/14/2023 0.00M
Inferred: 0.80M 0.80M 12/14/2023 0.00M
Reserves & Resources: 1.90M 1.90M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 0.51M 0.51M 12/14/2023 0.00M
Measured & Indicated: 0.85M 0.85M 12/14/2023 0.00M
Inferred: 0.34M 0.34M 12/14/2023 0.00M
Reserves & Resources: 1.19M 1.19M never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 12/14/2023 $0.00
Extra Operating Cost: n/a n/a 12/14/2023 $0.00
G
R
A
D
E
Underground (Avg): 1.30 g/t n/a 12/14/2023 n/a
Open Pit (Avg): n/a 1.30 g/t 12/14/2023 1.30 g/t
Recovery Rate: (CG)  85.00% (CG)  85.00% 04/18/2024 0.00%
F
U
T
U
R
E
Proven & Probable: 1.50M 1.50M 12/14/2023 0.00M
Annual Production: 80,000oz. 80,000oz. 12/14/2023 0oz.
Cash Cost: $1,100 $1,100 12/14/2023 $0
Extra Operating Cost: $500 $500 12/14/2023 $0
SILVER 12/14/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 12/14/2023 0.00M
Measured & Indicated: n/a n/a 12/14/2023 0.00M
Inferred: n/a n/a 12/14/2023 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 12/14/2023 0.00M
Measured & Indicated: n/a n/a 12/14/2023 0.00M
Inferred: n/a n/a 12/14/2023 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 12/14/2023 $0.00
Extra Operating Cost: n/a n/a 12/14/2023 $0.00
G
R
A
D
E
Underground (Avg): n/a n/a 12/14/2023 n/a
Open Pit (Avg): n/a n/a 12/14/2023 n/a
Recovery Rate: n/a n/a 12/14/2023 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 12/14/2023 0.00M
Annual Production: n/a n/a 12/14/2023 n/a
Cash Cost: n/a n/a 12/14/2023 n/a
Extra Operating Cost: n/a n/a 12/14/2023 n/a

Property

Last Analysis Data  (12/14/2023)
Stage Name Owned Au Ag Cu Notes
Exp Dalgaranga 100% show
1.7 million oz (2.5 gpt) deposit

Past producing mine with a working mil.
Exp Glenburgh 100% show
500K oz.
Exp Yalgoo 100% show
The Yalgoo Gold Project includes the advanced Melville gold deposit, which hosts a JORC 2004 Mineral Resource of
2.75Mt grading 1.57g/t Au for 140,000 ounces of contained gold (0.8g/t cut-off)1
(Melville Deposit).
Current Data
Stage Name Owned Au Ag Cu Notes
Exp Dalgaranga 100% show
1.7 million oz (2.5 gpt) deposit

Past producing mine with a working mil.
Exp Glenburgh 100% show
500K oz.
Exp Yalgoo 100% show
The Yalgoo Gold Project includes the advanced Melville gold deposit, which hosts a JORC 2004 Mineral Resource of
2.75Mt grading 1.57g/t Au for 140,000 ounces of contained gold (0.8g/t cut-off)1
(Melville Deposit).

Profitability (by resource)

Proven &
Probable
12/14/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 0.60M 0.60M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -5.34M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 0.51M 0.51M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -4.54M
Maximum Profit (Gold): $219.76M $427.43M n/a $207.67M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $219.76M $427.43M n/a $207.67M
Max Profit / Current MCap: 0.695 0.856 n/a 0.160
Max Profit Per Share (Gold): $0.21 $0.41 n/a $0.20
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.21 $0.41 n/a $0.20
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $619.70 $979.57 n/a $359.88
FD MCap / Silver Eq.: $7.26 $12.82 n/a $5.55
FD MCap / Per Metal
as % Spot Price:
30.51% 40.18% n/a 9.66%
Measured &
Indicated
12/14/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.10M 1.10M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -9.79M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 0.85M 0.85M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -7.57M
Maximum Profit (Gold): $366.27M $712.39M n/a $346.12M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $366.27M $712.39M n/a $346.12M
Max Profit / Current MCap: 1.159 1.426 n/a 0.267
Max Profit Per Share (Gold): $0.35 $0.69 n/a $0.33
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.35 $0.69 n/a $0.33
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $371.82 $587.74 n/a $215.93
FD MCap / Silver Eq.: $4.36 $7.69 n/a $3.33
FD MCap / Per Metal
as % Spot Price:
18.31% 24.11% n/a 5.80%

Reserves &
Resources
12/14/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.90M 1.90M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -16.91M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 1.19M 1.19M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -10.59M
Maximum Profit (Gold): $512.77M $997.34M n/a $484.57M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $512.77M $997.34M n/a $484.57M
Max Profit / Current MCap: 1.622 1.996 n/a 0.374
Max Profit Per Share (Gold): $0.50 $0.96 n/a $0.47
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.50 $0.96 n/a $0.47
Total Free Profit Per Share: $0.03 $0.24 n/a $0.21
FD MCap / Gold Eq.: $265.58 $419.82 n/a $154.23
FD MCap / Silver Eq.: $3.11 $5.49 n/a $2.38
FD MCap / Per Metal
as % Spot Price:
13.08% 17.22% n/a 4.14%

Future Valuation (Cash Flow & Totals)

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