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South Pacific Metals Corp. V.SPMC

Alternate Symbol(s):  KRLCF

South Pacific Metals Corp., formerly Kainantu Resources Ltd., is an Asia-Pacific focused gold mining company with four prospective gold-copper projects, such as May River, Kili Teke, KRL North and KRL South (including the prospective Ontenu prospect). All projects are located in mining regions in Papua New Guinea (PNG). Both KRL North and KRL South host high-grade epithermal and porphyry mineralization in the Kainantu Gold District. The May River project is in close proximity to the Frieda River Copper-Gold Project, with historical drilling indicating the potential for significant copper-gold projects. May River project is located less than 15 kilometers (km) from the PanAust-owned Frieda River Project. Kili Teke project is an advanced development project with an existing NI43-101 compliant inferred mineral resource. The Kili Teke project comprises EL 2310 and is located approximately 40 km west-northwest of the Porgera Gold Mine, in the Koroba-Kopiago District of Hela Province, PNG.


TSXV:SPMC - Post by User

Post by BlindBoyon Dec 23, 2020 2:26pm
192 Views
Post# 32170875

worth a fun gamble, imo

worth a fun gamble, imoK92 is my main position, and I was surprised when Kainantu (KRL) first appeared on the scene, since it was obviously playing off K92's success on their Kainantu lease. 

KRL has demonstrated that shares are not that easy to come by, so it appears the insider group has a pretty good grip on the placement of the limited shares that are issued.
The pp was isssued at $0.20, and the attached warrants were set at $0.40, which is very interesting.

They are demonstrating that they have decent relationships with the gov't, which is interesting.
So, yeah, I think they're worthy of a fun "gamble", and I've recently taken a starter "gamble" position (only 35k), because so far, they seem to be making the right moves, and also, because I think that K92 will surge much higher in '21.
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