A brief history of SPMT, not time...The following represents my opinions and is supported by material facts when available. I do not hold a position in SPMT, nor am I currently or will I ever short the stock. I am not here to bash. My intention is to assist retail investers with making informed choices. I suggest you do your own due diligence.
It's important to rationally examine the history of a company when deciding to invest or not. With that said, I am a firm believer in the current silver and gold bull market. I have half my money invested in a variety of exploration, mid tier, and large mining gold and silver companies. We are entering into a bull market that could go on for a few years. At least I hope so. I've been doing this for over 20 years. When I invest, especially in junior miner penny stocks, not only do I look at the Stockhouse BB and the financials of a company, I look at the past resume of the executive team responsible for plan execution and achieving indicated company goals. After all, past success is an indication of future success.
My friend calls SPMT a lifestyle company. A company that raises capital and spends it on marketing and promotion more than on actual exploration. I do not know if this is the case for SPMT or not. You be the judge. Be sure to follow the money, as it tells the story the best.
https://smallcaps.com.au/mining-vs-lifestyle-where-resource-companies-spending-money/
https://www.spearmintresources.ca/wp-content/uploads/2019/10/SPMT-Final-Financials.pdf Here is what I found when looking into SPMT. The company came to my attention after seeing it being touted on Stockhouse by a variety of people who are already invested.
(1) The same executive team works at Spearment Resources and Cruz Cobalt. They also appear to have had past associations with Siena Resources. Currently, Gregory J Thompson, Seth Kay and James nelson are principle executives at both Spearment Resources and Cruz Cobalt. All of the companies these people work for are penny stocks worth well under a dime per share. According to the financials of Spearment Resources and Cruz Cobalt, both companies are in a state of going concern; meaning they don't have much money and its uncertain that they can continue operations.
https://www.marketscreener.com/business-leaders/Seth-Kay-0B0N8D-E/biography/ https://www.marketscreener.com/business-leaders/James-Nelson-09V9WZ-E/biography/ https://www.marketscreener.com/business-leaders/Cindy-Cai-094W62-E/biography/ https://www.marketscreener.com/business-leaders/Gregory-J-Thomson-06Z62C-E/biography/ (2) SPMT has a history of pursuing what is hot in the market. SPMT started in marijuana, moved into lithium, and has now moved into precious metals. They have made a variety of announcements on SEDAR over the years, indicating the intention of plan execution, but have not offered much in the way of results. They do, however, own leases adjoining existing exploration efforts being made by several companies. In some cases, these properties could represent real value. But in some there is no evidence to support that. The key thing, in my opinion, is the company must explore its properties and release findings. If they hit something significant, that would be something.
(3) Another interesting fact is the presence of many options being offered to principal officers at Spearment Resources. All of these options appear to be exercisable at a price of 0.05. James Nelson has 3 000 000 options, Gregory Thompson has 1 000 000. These were exercised in June, 2020. I have not verified this though. There were an additional 10 000 000 options for various insiders, but I think they expired, unexercised. I do not think the money for these options is allocated for exploration work, as some on the Stockhouse bullboards have suggested, it's for the company officers.
https://www.spearmintresources.ca/2017/10/spearmint-grants-stock-options/