pumpers going overboard hereAny decent company can support itself on its own merit with actual fundamental value created by having a management team that is involved with their work projects and have recorded filings to prove that the work was done.
I seen none of this with SPMT in the sedar filings. Apart from one single transaction that was done to acquire some ground in the golden triangle that actually shows a decent valuation, pretty much all the rest are just internet staked ground by the looks of it to me.They must of came up with some valuation for doing staking work online and call it an expense...
eg:In March and September 2019, the Company acquired a 100% interest in certain mineral claims (the “EL North 3 Nickel-CopperProspects”and the “EL North 1 Nickel-CopperProspects”) located inthe Golden Triangle ofBritish Columbia for staking costs of $280and $466, respectively
ok.. so they add these to their list of projects and it looks like they have an impressive portfolio... but give me a break!.. i have bought and paid for claims on a personal level that exceeded the costs shown here by many many times over,,, and me just being a private owner who raised money by working on a job... so if a publicly traded company can only put up this much.. what value does anyone think they are getting?
Also,,, staking on nearby or adjoining properties:.. does anyone not think that the company that drilled into a good grade resource would not immediately stake all the adjoining property that was open? of course they would.. and the only reason they would not do it is if they knew already it was barren or worthless of inaccessable or for some reason or another... they would not let ground be open next to theirs when they are the ones that spent the money to drill, just to let some speculator come in and stake it up..
The point is that you can stake all the ground up next to discoveries and hold nothing but barren ground.Being in close proximity means nothing until a drill program actually proves an economic resource exists (or not).
I am not bashing here.. just providing some fodder to offset all the pumping...
I implore people to do their dd and that means reading all the sedar filings... the 2019 annual for sure (May 29th,2020).