Spartan Resources (ASX:SPR) Full Year 2023 Results
Key Financial Results
-
Revenue: AU$57.4m (down 69% from FY 2022).
-
Net loss: AU$35.1m (loss narrowed by 57% from FY 2022).
-
AU$0.065 loss per share (improved from AU$0.24 loss in FY 2022).
SPR Production and Reserves
Gold
-
Production: 21.009 troy koz (71.153 troy koz in FY 2022)
-
Number of mines: 1 (1 in FY 2022)
All figures shown in the chart above are for the trailing 12 month (TTM) period
Spartan Resources EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 28%.
In the last 12 months, the only revenue segment was Gold Operations contributing AU$57.4m. Notably, cost of sales worth AU$64.8m amounted to 113% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling AU$15.0m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how SPR's revenue and expenses shape its earnings.
Looking ahead, revenue is expected to decline by 36% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 3.2%.
Performance of the Australian Metals and Mining industry.
The company's shares are up 2.5% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 3 warning signs for Spartan Resources (1 is potentially serious!) that you need to be mindful of.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.