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SPR - Spartan Resources

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No doubts that the cat was out of the bag before this news.

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ps: No cats were bagged to test this theory.
 
Now Westgold making a takeover bid for this.

Why would WGX take this over instead of MGV?

This is a weird play.
 
Sean K said:
Now Westgold making a takeover bid for this.

Why would WGX take this over instead of MGV?

This is a weird play.
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GCY raised almost $17M recently @ 0.30c .. their recent quarterly report reads very well imo so took an investment punt on current weakness around 0.27-0.275c (chart shows an "open price gap" between 0.315-0.35c to fill).

Takeover possibility still in play imo

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Gascoyne Resources Ltd (ASX:GCY) Share Price - Market Index

Today’s GCY share price, stock chart and announcements. View dividend history, insider trades and ASX analyst consensus.
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GCY Share Technical Analysis | Gascoyne Resources Ltd

Current Technical Analysis and interactive chart for $GCY stock / shares. See the current trading strategy, trend(s), rating and buy and sell signals.
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Saw this company mentioned in another thread, so decided to take a quick look. Superficially it looks promising, but I'm wondering why the share price keeps falling and the buy side of the market depth looks weak.

This is what Gascoyne Managing Director Simon Lawson said recently:
Gascoyne is now debt-free, with rising gold production, no hedging and an outstanding near-mine and regional exploration pipeline that offers shareholders an exceptional growth outlook.
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So why isn't the share price firing up today?
 
greggles said:
Saw this company mentioned in another thread, so decided to take a quick look. Superficially it looks promising, but I'm wondering why the share price keeps falling and the buy side of the market depth looks weak.

This is what Gascoyne Managing Director Simon Lawson said recently:


So why isn't the share price firing up today?
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Zackly as my grandchildren say.

Only reason I can see is if private schoolboys issued SPP at 30c are bailing when it don't shoot.

I'll not be tardy with this nor will I rush.

gg
 
Garpal Gumnut said:
Zackly as my grandchildren say.

Only reason I can see is if private schoolboys issued SPP at 30c are bailing when it don't shoot.

I'll not be tardy with this nor will I rush.

gg
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Agreed. There is something appealing about getting into an established gold miner with a strong growth outlook at a 25% odd discount to such a substantial capital raising. But... if you can get in at a 30% discount it might be worth the wait. The recent market gyrations make me think that GCY might go a little lower as we head towards tax loss selling time.

Watching closely in any case.
 
greggles said:
Agreed. There is something appealing about getting into an established gold miner with a strong growth outlook at a 25% odd discount to such a substantial capital raising. But... if you can get in at a 30% discount it might be worth the wait. The recent market gyrations make me think that GCY might go a little lower as we head towards tax loss selling time.

Watching closely in any case.
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I agree with insight/comments above.. as I really like the risk/reward investment potential here especially moreso once the gold price recovers/rebounds higher.

P.S. I sense that GCY trending lower as like all other gold stocks at present in simply following the gold price lower
 
Telamelo said:
I agree with insight/comments above.. as I really like the risk/reward investment potential here especially moreso once the gold price recovers/rebounds higher.

P.S. I sense that GCY trending lower as like all other gold stocks at present in simply following the gold price lower
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I don't know. There seems little demand.

I might have to get a dart or a half sovereign out on which to make a decision.

gg
 
greggles said:
Agreed. There is something appealing about getting into an established gold miner with a strong growth outlook at a 25% odd discount to such a substantial capital raising. But... if you can get in at a 30% discount it might be worth the wait. The recent market gyrations make me think that GCY might go a little lower as we head towards tax loss selling time.

Watching closely in any case.
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Well it nudged a low of 0.23c earlier this week & since closed today @ 0.27c (nice +17% rebound these last few day's).

P.S. Unfortunately missed out on getting my earlier 0.20c order filled :(
 
This is normally a good thing. They didn't do a halt for the previous 'strong' results on 11 Aug, so would expect these to be better, although I didn't really think the 11 Aug results were that 'strong'. Good grades, but narrow widths maybe. Might be adding significant ounces to Gilbey's North to add to LOM...

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Chasing the elusive holy grail... But has closed the gap today.

“To achieve and maintain a higher average grade ore feed within the Dalgaranga Greenstone Belt is to essentially rewrite the geological model and find better grade than has ever been found before.
We have taken some key steps towards realising this objective and, with the recent Never Never discovery, we have a real opportunity to transform the future of the operation.
Our reserves might be small right now, but grade is king, and we are focusing on delivering ounces at a much higher grade than ever before.”

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Excellent intersections. I wonder why this wasn't discovered when the main Gilby's mine was drilled out. It's 200m away...

MRE delayed to incorporate the new numbers.

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On August 29th, 2023, Gascoyne Resources Limited (GCY) changed its name and ASX code to Spartan Resources Limited (SPR).
 
*****LOGIC BEHIND CHOICE OF FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION*****

SPR has been on the radar for quite a while and performed very well since identified in weekly scans back towards the end of September, as shown in the chart below. With gold in reasonable demand and remaining firmly above USD$2000/oz and the trend for SPR appearing to retain bullish sentiment, it is suggested by the charts that SPR should continue in an upward trend and explains the logic for choice within the stock tipping competition. Further descriptions can also be obtained from recent episodes of the weekly video series of analyses of the Australian market, which includes analysis of SPR within (link below for the latest episode).

Please note that my recent comments in the video have noted that I would not have personally entered after the recent gap-up on 04-Dec, however recent activity over the past few days (22-Dec, 27-Dec and 28-Dec) has seen a swing up in the momentum indicators (DMI and RSI), as shown in the chart below, coinciding with the price increase.

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*****MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION*****

January 2024 - My initial thoughts of 'not chasing' entry into a stock have been well and truly confirmed in relation to the performance of this stock when looking at the full two month performance of SPR from the beginning of December 2023, even though this is technically a 2024 stock tipping competition. As noted in the previous comment, my personal preference would not be to enter a trade on a 'gap up', which is what occurred on 4th December (technically, 'chasing a trade'). Sometimes it can work out - in this case, it didn't.

Specifically centering upon 2024 action, the share price has closed below the 10 and 30 day moving averages in January, with both moving averages turning downwards. Some support may be developing at the present time at about the same level where bullish potential had previously been identified back in September last year, however heavy resistance now exists above at the $0.475 level from mid-November which warrants consideration. This could be stuck in a range and consolidating for some time, especially whilst remaining in 'no man's land' between the 10 and 30 day moving averages... let's see what happens over the next month (perhaps we might receive an unexpected surprise!?!).

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