RE:A brief history of SPMT, not time...ErinBrockovich wrote: 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/
Very articulate to say the least the information you present seems to in order and a fair depiction of the company and the company’s management. This has and may always be their way of doing business. That being said, it is neither a good sign or a bad sign of their ability to make a go of it or turn this into what everyone hopes it will be. Just in the same way that a real going concern will continue to beat all expectations and continue to bring wealth to its shareholders.
We are in flux right now when it comes to investment sectors (gold, energy, hi tech, medical, staples, real estate, financial) to name a few. So many sectors have been beat down that now folks are looking for some sort of recouping of losses to get back on track to they are willing to venture out and buy some stocks which appear to have great potential. In this case SPMT is one of those companies
Now we get to management. No one gets into mining with the intent of selling a few shares into the market and living of a couple of hundred thousand shares at 3-4 cents apiece. If they do then their fools and deserve to live like paupers. Management has done what management has done based on a “Look what they found here mentality for a long time but when they do this they have neglected to make adjustments for financial requirements to bring the bacon home. This has lead to a “Omg not another one of their pumps”, this can only go on so long before everyone who buys into this just turns the other cheek and the stock just continues to plummet.
What is needed from management at this time is some feet on the ground doing honest work bring home a few strips of bacon. Those few strips should raise the price of the stock to the point that when they do another PP they do it at much higher levels…..75 cents to 1.00. At this stage they could raise the capital to do the proving out of most of their properties. It’s much easier to raise 10 million dollar when you can prove that you proved out 3 million ounces of gold and your current share price has risen to 4.00 to 5.00 since your last PP at 75 cents to $1.00. It also brings in larger players that are more secure in your management skills..
It can be done but it has to be done by MANAGEMENT…not folks on the boards.
As I have said before, I don’t know how much is in the ground and I don’t care, I’m not forecasting the price, I also understand that it’s hard for management to do what has to be done when their hands are tied behind their backs. SO lets see where MANAGEMENT can take the stock.
Oh Yes…I see your profile was created TODAY.
Old_dog