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Twice broke to $2.4b buyout: a deal to keep Aussies backing mining juniors

Who said bitcoin investors make all the money? Drilling in a different direction and a surging gold price kept Spartan Resources’ dream alive.

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Two years ago, WA gold miner Gascoyne Resources was absolutely friendless.

It had gone broke twice in three years, was jammed together with another gold junior, Firefly Resources, and its small and old Dalgaranga gold mine in WA was barely worth running.

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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
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    Original URL: https://www.afr.com/chanticleer/twice-broke-to-2-4b-buyout-the-deal-that-will-keep-aussies-backing-juniors-20250317-p5lk1f