The acquisition of the Triumph project marked Dart’s first foray into an advanced gold system in Queensland. Remarkably, when the company purchased the project from ASX-listed Sunshine Metals in August, it only paid $2 million in cash and shares, translating into a price of $16.96 per ounce of gold.

The deal, however, would appear to be even cheaper given that the accompanying silver mineralisation, which is a key component of the ore and is generally present in a ratio of one to two-times the gold content, has not been included in the project’s resource estimate, nor in the acquisition price.

In the past year, gold prices have surged 35 per cent. It is currently trading near all-time highs at about AU$3870 and the price has risen some AU$100 an ounce alone since Dart made its latest deal. So, by all measures, it seems the company has managed to nab a bargain.

By further increasing its exploration acreage in a gold-rich region by 200 per cent in a single transaction, Dart has given itself every chance of being able to leverage into the ever-rising price for the yellow metal.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au