How does 6G40's PB Ratio compare to its peers?

6G40 is expensive based on its Price-To-Book Ratio (9.3x) compared to the peer average (0.6x).

How does 6G40's PB Ratio compare vs other companies in the European Metals and Mining Industry?

6G40 is expensive based on its Price-To-Book Ratio (9.3x) compared to the European Metals and Mining industry average (0.9x).

What is 6G40'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 6G40's Price-To-Book Fair Ratio for valuation analysis.

What is the Fair Price of 6G40 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

6G40 (€0.84) is trading below our estimate of [[fair value]] (€7.69)

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 (DB:6G40) - Stock Price, News & Analysis

6G40 Stock Overview

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

6G40 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 89.1% 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

Salzgitter

XTRA:SZG

€906.0m

Pearl Gold

DB:02P

€10.0m

thyssenkrupp

XTRA:TKA

€2.3b

Sto SE KGaA

XTRA:STO3

€736.4m

Price History & Performance

Summary of all time highs, changes and price drops for Spartan Resources
Historical stock prices
Current Share Price	AU$0.84
52 Week High	AU$1.06
52 Week Low	AU$0.23
Beta	0.25
11 Month Change	-14.72%
3 Month Change	-0.59%
1 Year Change	278.38%
33 Year Change	359.02%
5 Year Change	n/a
Change since IPO	-45.45%

Recent updates

Shareholder Returns

	6G40	DE Metals and Mining	DE Market
7D	26.3%	-2.5%	0.8%
1Y	278.4%	-27.1%	8.6%

Return vs Industry: 6G40 exceeded the German Metals and Mining industry which returned -26.8% over the past year.

Return vs Market: 6G40 exceeded the German Market which returned 9.1% over the past year.

Price Volatility

Is 6G40's price volatile compared to industry and market?
6G40 volatility
6G40 Average Weekly Movement	n/a
Metals and Mining Industry Average Movement	11.6%
Market Average Movement	4.8%
10% most volatile stocks in DE Market	10.9%
10% least volatile stocks in DE Market	2.4%

Stable Share Price: Data is not available.

Volatility Over Time: Insufficient data to determine 6G40's volatility change 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?
6G40 fundamental statistics
Market cap	€898.28m
Earnings (TTM)	-€31.33m
Revenue (TTM)	n/a

0.0x

P/S Ratio

-28.7x

P/E Ratio

Is 6G40 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
6G40 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 6G40 perform over the long term?

See historical performance and comparison

6G40 Stock Overview

Rewards

Risk Analysis

Spartan Resources Limited Competitors

XTRA:SZG

€906.0m

DB:02P

€10.0m

XTRA:TKA

€2.3b

XTRA:STO3

€736.4m

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

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

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

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

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 €1.8m 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

Less than half of directors are independent

Less than half of directors are independent

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

New minor risk - Financial position

Spartan Resources Limited has filed 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.

Full year 2023 earnings released: AU$0.065 loss per share (vs AU$0.24 loss in FY 2022)

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

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

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 released: AU$0.24 loss per share (vs AU$0.23 loss in FY 2021)

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.

Less than half of directors are independent

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

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

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: Revenues and EPS in line with 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

No independent directors

Gascoyne Resources Limited Announces Near-Mine Exploration Delivers Breakthrough with Discovery Immediately North of Gilbey's Pit

Gascoyne Resources Limited Announces Executive Changes