Buy, Sell, Or Hold? Spearmint Resources Inc (OTCMKTS:SPMTF) (CVE:SPMT)

Spearmint Resources Inc (OTCMKTS:SPMTF) (CVE:SPMT) stock closed lower on Monday. The stock could be in action after announcing the following news this morning.

Major Trigger:

Spearmint Resources Commences Operations on its Perron-East Gold Project in Quebec

Key Highlights:

• announced that its 2021 work program is now underway on the 100-percent owned Perron-East gold project in Quebec, located in the direct vicinity of Amex Exploration Inc. and Starr Peak Mining Ltd. Spearmint is looking to build upon the success of the Company’s last work program which discovered multiple soil anomalies.
• Spearmint will be conducting an Induced Polarization (IP) survey over these anomalies with the expectation for a fully funded 2021 summer drill program once the highest priority drill targets are defined. Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company’s properties.
• James Nelson, President of Spearmint Resources stated, “Coming fresh off the heels of our maiden resource estimate on the Clayton Valley Lithium Clay Project in Nevada, we are very pleased to immediately get right back to work on our Perron-East Gold Project in Quebec, located in the direct vicinity of Amex Exploration Inc. and Starr Peak Mining Ltd.
• Both of these companies have recently undertaken significant drill programs utilizing the same geological team as Spearmint (Laurentia Exploration). On June 7, 2021, Amex Exploration Inc. announced significant drill results including 6.4 m of 32.91 g/t Au at Perron. On May 5, 2021, Starr Peak Mining Ltd. announced significant drill results including 12.1 m of 23.82% ZnEq at NewMetal and have since decided to increase the size of their drill program from 5,000 to 20,000 meters.

Market Reactions  

On Monday, SPMTF stock fell by 5.83% at $0.1423. Total volume so far stood at 855K shares, compared to its average volume of 291K shares.  The stock moved within a range of $0.1260 – 0.1600 after opening at $0.1260.