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Bullboard - Stock Discussion Forum Silver Spruce Resources Inc V.SSE

Alternate Symbol(s):  SSEBF

Silver Spruce Resources Inc. is a Canadian junior exploration company holding 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario. The Project is an advanced precious and base metal property located in the Thunder Bay Mining District, northern Ontario, Canada. The Project covers 11,236 hectares with volcanogenic massive sulphide (VMS) and Au targets located in east to southeast... see more

TSXV:SSE - Post Discussion

Silver Spruce Resources Inc > These guys are a joke....
View:
Post by mrmomo on Sep 02, 2021 11:08am

These guys are a joke....

A complete & utter JOKE. That walkdown of the share price to "facilitate" a cheap financing, probably to themselves, could be seen miles away from these fools. As the famous, wise & astute Rick Rule says "It’s not the name, not the sector or the commodity, it’s the people. Assets are basically latent until a person or a group of people turns them into wealth." Remember that quote folks, because it will be the difference in being successfull with your investments or being wiped out.

As my prophecy has been fulfilled and the PP has been made public, there's yet ANOTHER curve ball yet to be revealed. Yes my dear friends, another one. This of course would be the drilling results for El Mezquito that will most likely be released while investors take off for the long week-end in Canada. Did you really expect anything less from these underhanded dumba$$es in this company? I didn't think so. I STRONGLY suggest folks start to look for another investment vehicle in this sector, as this company will go nowhere as it has been doing for the last 25 years. And i'll explain briefly why....

My greatest fear when investming in these highly speculative microcaps plays in Canada, especially the mining sector, is to be stuck with either a scam/fraud, an empty shell or the most dangerous & difficult to spot a "lifestyle shell". As i try my best (as many other investors do) to try and avoid these moneypit traps, it is extremely difficult to do even with many years of experience behind you. Sometimes it may too late before you realize that you've been had & invested in the wrong company. And i think this is unfortunately the case here with Silver Spruce. This is a "lifestyle" shell company folks! No doubt about it.

For those that don't know what that is, i'll breifly explain but i strongly suggest you read up on Rick Rules many interviews & podcasts over the years he freely gives out to help novice investors. He's one of the VERY few credible speakers/investors i put a lot of faith in what he's says as i agree with most of his philosophy on investing. Specifically the Canadian mining sector. As it concerns Silver Sprout being a lifestyle shell company and what it means for investors. Well, the good news is that these guys aren't actively trying to scam investors with some type of fraud. The bad news is this, it probably would have been better if it was as it would have been easier to spot and much easier to avoid. As this is a lifestyle shell company, they're much harder to pick out as they try very hard to seem like as a "credible actively operating enity".

So what is a "lifedstyle shell"? It's a company that's been basically setup to provide the owners with the semblance or appearance of a credible operation by amassing properties but really not having the intentions of doing anything or advancing those assets to any stage which will benefit s/h. Just a continuous flipping of properties with the very minmal work required to satisfy regulators. This is done for many reasons of which the biggest is to collect some revenue which could come in the form of a salary and/or by options including have the added benefit of  income tax credits/relief. That's a lifestyle shell my friends.

Anyway, excuse the long rant but i think it was definitely required so folks here understand what they've invested in. So you are FULLY aware of the risks you've taken or about to take. I pesonally am done here, and will be looking to unload my ENTIRE position at the appropriate time. I was hoping Gold & Silver prices would at least help in the interim as the company (as bad as they are) flesh out their properties, specifically Pino De Plata. But unfortunately for us it's been a wash on all fronts. Contrary to some folks here, i knew the risks going in from the beginning, so my losses at this point arent that severe. The only thing i wasn't too sure about & that i unfortunately got caught in was the "lifestyle shell" trap. Like i said, these traps are very hard to spot, until about a month ago.

The only solice i can offer discouraged or worried investors here is this, be patient as there will be a time to offload this with minimal losses. As the saying goes "during times of great euphoria, the tide will always lift ALL boats, even the garbage". With the gold & Silver sector being so depressed now, there are much better spec plays which are not lifestyle shells which folks can invest in and maybe profit from. I know this might be hard for some folks to grasp, but there's a reason this hasn't done squat for a one quarter century and will most likely do nothing for another 25 years. A tiger never changes is stripes. I will leave you with the following quote......

"What that tells you is that to the extent you can in your investing activities, you segregate the management teams that you’re considering investing with and try and confine your investing activities to the best of the best, understanding that 5% of the population base will generate well in excess of 60% of the economic returns."

Rick Rule



Good luck & God speed
Comment by Henrich428 on Sep 02, 2021 11:59am
I advise people to get out while they can. And if they still wish to gamble on nanocap (~10m mcap) silver stocks then SAM and MTB I believe are much better choices. Good luck.
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