Recent results from drilling at Spartan’s Never Never deposit appear to have confirmed the discovery of an additional ‘Pepper Lode’ with grades and widths akin the better parts of the main Never Never lode. We update our model incorporate the additional ore feed we expect from the Pepper Lode which can be mined utilising the same decline development as the Never Never mineralisation. Pepper Lode remains open at depth and further extensions will have material impact on the next MRE update schedule mid-year. The increase to our Never Never mining inventory drives our Price Target from $0.68 to $0.94. Speculative Buy is maintained.
To access the full report please log in under the Client Area at the bottom of this page.
Argonaut’s Client Area allows you to view delayed share prices, access Argonaut’s wealth of Research as well as create custom portfolios and set up company watch lists.
If you would like to access our research please contact us to create an account.
