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Spearmint Resources Inc C.SPMT

Alternate Symbol(s):  SPMTF

Spearmint Resources Inc. is a Canadian junior resource exploration company. The Company's principal business activities include acquiring and exploring exploration and evaluation assets. The Company's Clayton Ridge project in Clayton Valley, Nevada, is comprised of 12 contiguous claims totaling approximately 248 acres. The Company has three separate claim blocks in Nevada that are prospective for lithium known as the 1,136-acre McGee Lithium Clay Project, the 124-acre Green Clay Lithium Project, and the 280-acre Elon Lithium Brine Project, covering an aggregate area of 1,540 acres. Its 3,015-acre Chibougamau project is composed of four separate claim blocks and is located in the direct vicinity of Lac Chibougamau, Quebec, Canada. Its 100-per-cent-owned Perron-East Gold Project consists of five mineral claim blocks covering 11,608 acres located in the Abitibi greenstone belt of northwestern Quebec.


CSE:SPMT - Post by User

Bullboard Posts
Post by waynemerrick1on May 26, 2020 5:42pm
70 Views
Post# 31075295

They lack funding to maintain claims Their own words

They lack funding to maintain claims Their own wordsMD&A Dec 2019 No filng since  "The Company expects to incur further losses in the development of its business, all of which casts substantial doubt on the Company’s ability to continue as a going concern"

"As a result, management believes that the Company’s available funds may not be sufficient to meet its working capital requirements for the next twelve-month period. Management anticipates that additional funds will need to be raised, through equity financings, shareholder loans, or otherwise to fund the Company’s planned work programs on its mineral properties and ongoing operations."

They got $90k in January so lets say they have enough for one drilling.They have to pay to maintain all those other claims. 







 

Bullboard Posts