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SPR - Spartan Resources

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***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

September 2024 - Following on from last month's update in August, Spartan Resources (SPR) continues to perform well, even after having closed below 10 and 30 day moving averages towards the end of the week ending 6th September. Now trading within a channel between the established support level of $1.28 and prior resistance of $1.445 from the open of 2nd September, shareholders are in a patient 'waiting game' for further price movement. Momentum indicators (DMI and RSI) both remain flat at present.

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***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

October 2024 - Following on from last month's update in September, Spartan Resources (SPR) continues to have an incredible run, now breaking out of a sideways channel towards the end of the month and forming / executing a Darvas box on the daily chart (see attached chart), which provides good guiderails for anyone remaining in the investment/trade. As suggested by the Darvas box technique, the stop loss can now be raised to $1.425 - watch and observe the market reaction at this point, should this be triggered. At the present time, this level coincides nicely with the support level offered from the open of 2nd September ($1.44), which is also near the top of the previously established channel discussed in the previous update.

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Maybe you would like to add on some volume based indicator like these below?
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Those band are special bollinger band type that is inspired by Nick's and obviously I combined with my own and other existing BB system
 
Spartan Resources (ASX:SPR) has confirmed a new high-grade gold discovery at the Freak Gold Prospect, located just south of its Pepper Gold Deposit at the Dalgaranga Gold Project in Western Australia. This marks the third major high-grade discovery at the site, which is evolving into a key exploration hub.

The latest results from diamond drilling at Freak include standout intercepts such as:
  • 10.26m at 5.37g/t gold from 520.56m, including 2.31m at 13.67g/t.
  • 7.43m at 5.30g/t gold from 597.46m.
  • 20.95m at 2.70g/t gold from 514.76m.
These results align with the geological characteristics of the adjacent Never Never and Pepper deposits, including similar rock types and alteration styles. The new mineralisation remains open in all directions, and intensive drilling with multiple rigs is ongoing to delineate this high-grade zone.

Simon Lawson, Interim Executive Chair of Spartan Resources, stated, "A third gold discovery by our team is another incredible outcome for Spartan and its shareholders. With the Juniper Decline making steady progress, it won’t be long before we establish underground drilling positions and accelerate the rate and accuracy of resource drilling and underground exploration."

The company is also advancing its underground mining infrastructure, with over 550m of the Juniper Decline already completed. Underground drilling is scheduled to commence in early 2025.
The Dalgaranga Gold Project, which includes the Never Never and Pepper deposits, has already established a combined high-grade resource exceeding 2.4Moz of gold.
 
***** FINAL MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

November 2024 - As suggested in last month's update in October, the Darvas box technique played out quite nicely as guiderails for shareholders of Spartan Resources (SPR) with the high of 23rd October ($1.67) remaining as the recent high and the protective stop of $1.425 being triggered on the gap down on 7th November with the open of $1.38 (still not a bad situation if the position was held to this point considering the share price of entry noted earlier in the year). An exit at this point would've prevented further losses towards $1.07 one week later (14th November). Long term holders and traders (or for the purposes of this year-long competition) would be pleased to see that the share price has since rebounded to $1.425 towards the end of the trading month, alongside an improvement in the spot gold price since 14th November, with the share price closing above both 10 and 30 day moving averages on the daily chart, testing that protective stop area noted above.

Where to from here? Momentum appears decent - keep an eye on the spot gold price and look towards the DMI indicator on the daily chart for further clues - should the ADX (orange line) swing upwards whilst the +DI (blue line) continue moving above the -DI (red line), it is likely for further positive momentum should the resistance of $1.44 from the open of 2nd September be overcome.

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