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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$901.85M which is a rise of roughly 185% over the last twelve months. As of 12/14/2023 they have no debt and ~A$62.37M 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
Item Value Value Updated
MCap (FD): $316.04M $901.85M 12/14/2023
Total Assets: $131.34M $124.75M 12/14/2023
Total Liabilities: $78.15M $74.22M 12/14/2023
Current Assets: $3.28M $62.37M 04/18/2024
Current Liabilities: $38.74M $36.80M 12/14/2023
Total Debt: $0.00M $0.00M 12/14/2023
Cash: $3.28M $62.37M 04/18/2024
Enterprise Value: $312.76M $839.48M 08/07/1996
Cash Flow: $0.00M $0.00M never
Cash Flow Multiple: 0.00 0.00 never
Net Debt to
Cash Flow Ratio:		 n/a n/a never
Finance within 1 year: Yes Yes 12/14/2023
Misc 12/14/2023
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 954,000,000 954,000,000 12/14/2023
Shares (FD): 1,035,000,000 1,035,000,000 12/14/2023
Insider Ownership: n/a n/a never
Dividend (Annual): n/a n/a never
Company Type: Mostly Gold Mostly Gold never
Production ETA: n/a 01/01/2024 12/14/2023
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 12/14/2023
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 12/14/2023
Initial CapEx (Outstanding): $10.00M
3.16% of MCap		 $10.00M
1.11% of MCap 		12/14/2023
Funding Option: n/a n/a 12/14/2023
Documentation: none FS 04/18/2024
Future MCap Modifier: 0.15
Developer: Strong Path to Production
 0.15
Developer: Strong Path to Production
 12/13/2023
Cash Flow Multiplier: 8 8 12/13/2023

Resource Data

GOLD 12/14/2023
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 0.60M 0.60M 12/14/2023
Measured & Indicated: 1.10M 1.10M 12/14/2023
Inferred: 0.80M 0.80M 12/14/2023
Reserves & Resources: 1.90M 1.90M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: 0.51M 0.51M 12/14/2023
Measured & Indicated: 0.85M 0.85M 12/14/2023
Inferred: 0.34M 0.34M 12/14/2023
Reserves & Resources: 1.19M 1.19M never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 12/14/2023
Extra Operating Cost: n/a n/a 12/14/2023
Total: $1,600 $1,600 12/14/2023
Margin (Free Cash Flow): n/a
G
R
A
D
E		 Underground (Avg): 1.30 g/t n/a 12/14/2023
Open Pit (Avg): n/a 1.30 g/t 12/14/2023
Recovery Rate: (CG)  85.00% (CG)  85.00% 04/18/2024
F
U
T
U
R
E		 Proven & Probable: 1.50M 1.50M 12/14/2023
Annual Production: 80,000oz. 80,000oz. 12/14/2023
Cash Cost: $1,100 $1,100 12/14/2023
Extra Operating Cost: $500 $500 12/14/2023
SILVER 12/14/2023
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 12/14/2023
Measured & Indicated: n/a n/a 12/14/2023
Inferred: n/a n/a 12/14/2023
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 12/14/2023
Measured & Indicated: n/a n/a 12/14/2023
Inferred: n/a n/a 12/14/2023
Reserves & Resources: n/a n/a never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 12/14/2023
Extra Operating Cost: n/a n/a 12/14/2023
Total: n/a n/a 12/14/2023
Margin (Free Cash Flow): n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 12/14/2023
Open Pit (Avg): n/a n/a 12/14/2023
Recovery Rate: n/a n/a 12/14/2023
F
U
T
U
R
E		 Proven & Probable: n/a n/a 12/14/2023
Annual Production: n/a n/a 12/14/2023
Cash Cost: n/a n/a 12/14/2023
Extra Operating Cost: n/a n/a 12/14/2023

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

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.51M 0.51M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $219.76M $520.40M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $219.76M $520.40M n/a
Max Profit / Current MCap: 0.695 0.577 n/a
Max Profit Per Share (Gold): $0.21 $0.50 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $0.21 $0.50 n/a
Total Free Profit Per Share: $0.00 $0.00 n/a
FD MCap / Gold Eq.: $619.70 $1,768.33 n/a
FD MCap / Silver Eq.: $7.26 $19.85 n/a
FD MCap / Per Metal
as % Spot Price:		 30.51% 67.48% n/a
Measured &
Indicated		 12/14/2023
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 1.10M 1.10M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.85M 0.85M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $366.27M $867.34M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $366.27M $867.34M n/a
Max Profit / Current MCap: 1.159 0.962 n/a
Max Profit Per Share (Gold): $0.35 $0.84 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $0.35 $0.84 n/a
Total Free Profit Per Share: $0.00 $0.00 n/a
FD MCap / Gold Eq.: $371.82 $1,061.00 n/a
FD MCap / Silver Eq.: $4.36 $11.91 n/a
FD MCap / Per Metal
as % Spot Price:		 18.31% 40.49% n/a

Reserves &
Resources		 12/14/2023
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 1.90M 1.90M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.19M 1.19M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $512.77M $1,214.28M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $512.77M $1,214.28M n/a
Max Profit / Current MCap: 1.622 1.346 n/a
Max Profit Per Share (Gold): $0.50 $1.17 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $0.50 $1.17 n/a
Total Free Profit Per Share: $0.03 $0.00 n/a
FD MCap / Gold Eq.: $265.58 $757.86 n/a
FD MCap / Silver Eq.: $3.11 $8.51 n/a
FD MCap / Per Metal
as % Spot Price:		 13.08% 28.92% n/a

Future Valuation (Cash Flow & Totals)

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