Spartan Resources (SPR) Corporate Presentation summary

Capital structure and major shareholders

• 1,282 million shares on issue, market cap of A$2.33B, and A$272M cash with no debt as of 31 Dec 2024.

• Major shareholders: Ramelius Resources (19.9%), Tembo Capital (8.6%), 1832 Asset Management (6.9%).

Project portfolio and location

• Core asset is the Dalgaranga Gold Project in Western Australia, with 2.87Moz at 5.61g/t gold and a 2.5Mtpa processing plant.

• Never Never and Pepper deposits are high-grade, close to plant, with significant growth potential.

• Yalgoo Gold Project adds 243,600oz at 1.45g/t Au, supporting regional growth.

Mineral resources and growth

• Dalgaranga Gold Project total resource: 15.9Mt at 5.61g/t for 2.87Moz as of Dec 2024.

• Never Never: 1.45Moz at 8.81g/t; Pepper: 0.87Moz at 10.31g/t; both discovered in last two years.

• Group total resources: 22.34Mt at 4.39g/t for 3.15Moz gold.

• Resource growth: +400% ounces and +430% grade in three years.