How does SPR's PB Ratio compare to its peers?

SPR is expensive based on its Price-To-Book Ratio (8.7x) compared to the peer average (1.5x).

How does SPR's PB Ratio compare vs other companies in the AU Metals and Mining Industry?

SPR is expensive based on its Price-To-Book Ratio (8.7x) compared to the Australian Metals and Mining industry average (1.1x).

What is SPR's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

Insufficient data to calculate SPR's Price-To-Book Fair Ratio for valuation analysis.

What is the Fair Price of SPR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

SPR (A$1.23) is trading below our estimate of [[fair value]] (A$11.21)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Insufficient data to show price forecast.

Spartan Resources (ASX:SPR) - Stock Price, News & Analysis

SPR Stock Overview

Engages in the exploration, evaluation, and development of gold projects in Australia. More details

SPR fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	4/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

Rewards

Trading at 89% below our estimate of its fair value

Earnings are forecast to grow 104.82% per year

Risk Analysis

Makes less than USD$1m in revenue (A$0)

Shareholders have been diluted in the past year

Spartan Resources Limited Competitors

West African Resources

ASX:WAF

AU$1.7b

St Barbara

ASX:SBM

AU$298.9m

Resolute Mining

ASX:RSG

AU$894.2m

Strickland Metals

ASX:STK

AU$174.4m

Price History & Performance

Summary of all time highs, changes and price drops for Spartan Resources
Historical stock prices
Current Share Price	AU$1.23
52 Week High	AU$1.67
52 Week Low	AU$0.39
Beta	0.25
11 Month Change	-23.36%
3 Month Change	-9.23%
1 Year Change	186.05%
33 Year Change	272.73%
5 Year Change	n/a
Change since IPO	-67.63%

We're Not Very Worried About Spartan Resources' (ASX:SPR) Cash Burn Rate

Sep 27

Recent updates

We're Not Very Worried About Spartan Resources' (ASX:SPR) Cash Burn Rate

Sep 27

Spartan Resources Limited's (ASX:SPR) Low P/S No Reason For Excitement

Jan 18

Improved Revenues Required Before Spartan Resources Limited (ASX:SPR) Stock's 26% Jump Looks Justified

Oct 06

Is Gascoyne Resources Limited (ASX:GCY) Popular Amongst Institutions?

Jan 20

Shareholder Returns

	SPR	AU Metals and Mining	AU Market
7D	8.8%	-1.3%	1.4%
1Y	186.0%	-12.4%	17.7%

Return vs Industry: SPR exceeded the Australian Metals and Mining industry which returned -12.4% over the past year.

Return vs Market: SPR exceeded the Australian Market which returned 17.7% over the past year.

Price Volatility

Is SPR's price volatile compared to industry and market?
SPR volatility
SPR Average Weekly Movement	10.3%
Metals and Mining Industry Average Movement	11.0%
Market Average Movement	8.6%
10% most volatile stocks in AU Market	17.3%
10% least volatile stocks in AU Market	3.4%

Stable Share Price: SPR has not had significant price volatility in the past 3 months compared to the Australian market.

Volatility Over Time: SPR's weekly volatility (10%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2009	n/a	Simon Lawson	spartanresources.com.au

Spartan Resources Limited engages in the exploration, evaluation, and development of gold projects in Australia. The company’s flagship project is the Dalgaranga gold project, which covers an area of 500 square kilometers located to the north-west of Mt Magnet in Western Australia. The company was formerly known as Gascoyne Resources Limited and changed its name to Spartan Resources Limited in August 2023.

Spartan Resources Limited Fundamentals Summary

How do Spartan Resources's earnings and revenue compare to its market cap?
SPR fundamental statistics
Market cap	AU$1.37b
Earnings (TTM)	-AU$50.84m
Revenue (TTM)	n/a

0.0x

P/S Ratio

-26.9x

P/E Ratio

Is SPR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
SPR income statement (TTM)
Revenue	AU$0
Cost of Revenue	AU$6.17m
Gross Profit	-AU$6.17m
Other Expenses	AU$44.67m
Earnings	-AU$50.84m

Last Reported Earnings

Jun 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	-0.046
Gross Margin	0.00%
Net Profit Margin	0.00%
Debt/Equity Ratio	0%

How did SPR perform over the long term?

See historical performance and comparison

SPR Stock Overview

Rewards

Risk Analysis

Spartan Resources Limited Competitors

ASX:WAF

AU$1.7b

ASX:SBM

AU$298.9m

ASX:RSG

AU$894.2m

ASX:STK

AU$174.4m

Price History & Performance

Recent News & Updates

Spartan Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 4 million.

Benz Mining Corp. (TSXV:BZ) agreed to acquire Glenburgh and Egerton Gold Projects of Spartan Resources from Spartan Resources Limited (ASX:SPR) for AUD 15.6 million.

Spartan Resources Limited, Annual General Meeting, Nov 07, 2024

We're Not Very Worried About Spartan Resources' (ASX:SPR) Cash Burn Rate

High number of new and inexperienced directors

Spartan Resources Limited Announces Company Secretary Changes, Effective from 31 August 2024

Recent updates

Spartan Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 4 million.

Benz Mining Corp. (TSXV:BZ) agreed to acquire Glenburgh and Egerton Gold Projects of Spartan Resources from Spartan Resources Limited (ASX:SPR) for AUD 15.6 million.

Spartan Resources Limited, Annual General Meeting, Nov 07, 2024

We're Not Very Worried About Spartan Resources' (ASX:SPR) Cash Burn Rate

High number of new and inexperienced directors

Spartan Resources Limited Announces Company Secretary Changes, Effective from 31 August 2024

Spartan Resources Limited Appoints Mark Hine as Director

New major risk - Revenue and earnings growth

Spartan Resources Limited Announces Resignation of Hansjoerg Plaggemars as A Non-Executive Director of the Company, Effective from 30 June 2024

MD, CEO & Executive Director recently sold AU$2.8m worth of stock

Spartan Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 80.277388 million.

Spartan Resources Limited Announces Board Changes

First half 2024 earnings released: AU$0.029 loss per share (vs AU$0.085 loss in 1H 2023)

New major risk - Financial position

Spartan Resources Limited's (ASX:SPR) Low P/S No Reason For Excitement

New major risk - Revenue and earnings growth

Spartan Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 25 million.

Spartan Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 25 million.

Improved Revenues Required Before Spartan Resources Limited (ASX:SPR) Stock's 26% Jump Looks Justified

Forecast to breakeven in 2025

Gascoyne Resources Limited Announces Company Secretary Changes

Gascoyne Resources Limited Announces the Appointment of Mr. John Hodder as a Non-Executive Director to the Board

First half 2023 earnings released: AU$0.085 loss per share (vs AU$0.11 loss in 1H 2022)

Less than half of directors are independent

Gascoyne Resources Limited Announces Calculate an Exploration Target for the Never Never Gold Deposit

Gascoyne Resources Limited Receives Exceptional New Assay Results Confirming the Scale and Significance of the High-Grade Never Never Gold Deposit

Now 22% undervalued after recent price drop

Gascoyne Resources Limited Announces Mining of New, Higher-Grade Ore Sources to Commence in November

Gascoyne Resources Limited Receives Assay Results from Dalgaranga Gold Project in Western Australia

Now 21% undervalued after recent price drop

E79 Gold Mines Limited (ASX:E79) acquired gold and mineral rights of E51/1681 from Gascoyne Resources Limited (ASX:GCY).

Price target decreased to AU$0.40

Gascoyne Resources Limited Announces Further Spectacular Assays from Near-Mine Resource Drilling at its Never Never Gold Deposit

Gascoyne Resources Limited Auditor Raises 'Going Concern' Doubt

Full year 2022 earnings: EPS misses analyst expectations

E79 Gold Mines Limited (ASX:E79) entering into a binding agreement to acquire gold and mineral rights of E51/1681 from Gascoyne Resources Limited (ASX:GCY) for AUD 0.15 million.

E79 Gold Mines Limited (ASX:E79) entering into a binding agreement to acquire gold and mineral rights of E51/1681 from Gascoyne Resources Limited (ASX:GCY) for AUD 0.15 million.

E79 Gold Mines Limited (ASX:E79) entering into a binding agreement to acquire gold and mineral rights of E51/1681 from Gascoyne Resources Limited (ASX:GCY) for AUD 0.15 million.

Gascoyne Resources Limited Updates 2022 Ore Reserve Statement

Gascoyne Resources Limited Intercepts Highlight Potential to Double Never Never Extent

Gascoyne Resources Limited Presents Its 2022 Mineral Resource Statement

Gascoyne Resources Limited Announces Exceptional New Intercept Extends Never Never At Depth

Gascoyne Resources Limited Announces Exceptional New Intercept Extends Never Never At Depth

Gascoyne Resources Limited Provides Production Update

Gascoyne Resources Limited, Annual General Meeting, Nov 03, 2022

Consensus forecasts updated

Gascoyne Resources Limited Announces Discovery of High-Grade Gold at Dalgaranga

Gascoyne Resources Limited Reports Further Significant Drill Intercepts from Ongoing Resource Drilling Programs At the Gilbey's East Prospect

Gascoyne Resources Limited Announces Gilbey's North High-Grade Zone Extended

Gascoyne Resources Limited Announces Exceptional New Intercept At Gilbey's North Discovery

Price target decreased to AU$0.47

Gascoyne Resources Limited Announces Exceptional New Intercept at Gilbey's North Discovery

Gascoyne Resources Limited Announces Multiple High-Grade Zones Intersected in Gilbey's Footwall Area At Dalgaranga Gold Project in Western Australia

Capricorn Metals Ltd (ASX:CMM) signed a binding agreement to acquire Mumbakine Well Project from Gascoyne Resources Limited (ASX:GCY) for Approximately AUD 5 million.

Less than half of directors are independent

Gascoyne Resources Limited Appoints Rowan Johnston as Non-Executive Chair

First half 2022 earnings: EPS exceeds analyst expectations

Gascoyne Resources Limited Reports New Highly Encouraging Drill Results from Near-Mine Exploration at the 100%-Owned Dalgaranga Gold Project in Western Australia

Gascoyne Resources Limited to Report Further Highly Encouraging Drilling Results