{"id":3203,"date":"2023-12-14T01:39:19","date_gmt":"2023-12-14T01:39:19","guid":{"rendered":"https:\/\/economicherald.net\/?p=3203"},"modified":"2023-12-14T01:39:19","modified_gmt":"2023-12-14T01:39:19","slug":"ground-breakers-never-never-say-die","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=3203","title":{"rendered":"Ground Breakers: Never (Never) say die"},"content":{"rendered":"

Spartan upgrades Never Never gold discovery to 952,000oz at 5.74g\/t gold
\nComes less than a year after the struggling gold miner emerged from a 10c recapitalisation
\nThe $450m capped stock is now up 380% year to date<\/p>\n

\u00a0<\/p>\n

Since ~2018 a handful of failing WA junior miners have stunk up the speccy end of the ASX gold sector, making it more difficult for emerging developers to raise cash.<\/p>\n

The main culprits were Dacian Gold<\/a>, Ora Banda<\/a>, and Gascoyne Resources<\/a>.<\/p>\n

After limping along for years Dacian was recently acquired by Leonora consolidator Genesis Minerals (ASX:GMD)<\/a> for an implied 28.3c\/sh, based on a GMD closing price of $1.46 on 27th October 2023.<\/p>\n

Well below DCN\u2019s peak in excess of $2.50\/sh in early 2019.<\/p>\n

Meanwhile Ora Banda, which has historically struggled to make a go of its troubled Davyhurst gold operation near Kalgoorlie, is now on the recovery trail.<\/p>\n

The aspiring 100,000ozpa miner has rebounded strongly with a 660% gain since MD Luke Creagh, a veteran mining engineer who was COO at Australia\u2019s #2 gold miner\u00a0Northern Star Resources (ASX:NST)<\/a>, took control mid last year.
\n\u00a0<\/p>\n

Ora Banda Share Price Chart<\/h2>\n\n

\ufeff<\/span><\/span>
\n\u00a0<\/p>\n

But the biggest turnaround so far comes from Gascoyne, recently renamed Spartan Resources (ASX:SPR)<\/a>.<\/p>\n

Shallow, high grades and metallurgical simplicity at its game changing Never Never discovery at Dalgaranga<\/a>, all within 2km of the processing plant, makes the deposit something special, analysts say<\/a>.<\/p>\n

Now you can add size to that list, with Never Never today moving to within a whisker of 1Moz.<\/p>\n

The newly upgraded 952,000oz at 5.74g\/t gold resource helps propel the wider project to 1.7Moz at 2.49g\/t. That represents a 43% increase in Dalgaranga project ounces, a 13% uplift in grade and 27% more tonnes.<\/p>\n

\u201cTo be able to post a high-grade resource for the Never Never discovery of just under 1 million ounces at an average grade of 5.74g\/t less than a year after emerging from a 10c recapitalisation is an incredible outcome and a remarkable story,\u201d SPR boss Simon Lawson says.<\/p>\n

\u201cThe centrepiece of this MRE update is once again the Never Never discovery, which has grown remarkably within short order from a resource of 303,000oz at the start of 2023, through to 721,000oz in July, and now, less than 12 months later, reaching 952,900oz \u2013 74% of which is now classified as Indicated.<\/p>\n

This is just an interim update in what is a rapidly unfolding growth story at Dalgaranga, Lawson says.<\/p>\n

Never Never remains open, there there are more drill assays to come, and many more high-grade targets to test.<\/p>\n

\u201cWe are all looking forward to another massive year in 2024,\u201d he says.<\/p>\n

\u201cIf we can repeat anything like the success we have enjoyed in 2023 in terms of continued growth in high-grade resource ounces within a 2km radius of the Dalgaranga plant, then Spartan is set for a very exciting future.\u201d<\/p>\n

The $450m capped stock is now up handsomely year to date. Merry Xmas, SPR shareholders.
\n\u00a0<\/p>\n

Spartan Share Price Chart<\/h2>\n\n

\ufeff<\/span><\/span>
\n\u00a0
\nAt Stockhead we tell it like it is. While Ora Banda and Spartan Resources are Stockhead advertisers, they did not sponsor this article.<\/em>
\n<\/span><\/p>\n

The post Ground Breakers: Never (Never) say die<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Spartan upgrades Never Never gold discovery to 952,000oz at 5.74g\/t gold Comes less than a year after the struggling gold miner emerged from a 10c [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":3204,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nGround Breakers: Never (Never) say die - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=3203\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ground Breakers: Never (Never) say die - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Spartan upgrades Never Never gold discovery to 952,000oz at 5.74g\/t gold Comes less than a year after the struggling gold miner emerged from a 10c [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=3203\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-14T01:39:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/climb-tough-mountain-jf16MG.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3203#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3203\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Ground Breakers: Never (Never) say die\",\"datePublished\":\"2023-12-14T01:39:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3203\"},\"wordCount\":526,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3203#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/climb-tough-mountain-jf16MG.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=3203#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3203\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=3203\",\"name\":\"Ground Breakers: Never (Never) say die - 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