RETRANSMISSION: Spearmint to Diversify into Crypto
Spearmint Resources Inc. (CSE: SPMT) has announced plans to diversify a portion of its cash holdings into cryptocurrency investments. The company will allocate up to 20% of its cash reserves specifically into Bitcoin, Ethereum, or Solana through a public firm. This strategic move follows what the company perceives as improved crypto sentiment after the Republican Party's victory in the US election.
The company maintains its primary focus as a mining operation with assets including the McGee lithium clay deposit in Clayton Valley, Nevada, which contains 2,092,000 tonnes of lithium carbonate equivalent (LCE) across indicated and inferred resources.
Spearmint Resources Inc. (CSE: SPMT) ha annunciato piani per diversificare una parte delle sue riserve di cassa in investimenti in criptovalute. L'azienda destinerà fino al 20% delle sue riserve di cassa specificamente in Bitcoin, Ethereum o Solana attraverso una società pubblica. Questa mossa strategica segue ciò che l’azienda considera un miglioramento del sentimento sul crypto dopo la vittoria del Partito Repubblicano nelle elezioni statunitensi.
L'azienda mantiene il suo focus principale come operazione mineraria, con asset che includono il deposito di argilla di litio McGee nella Clayton Valley, Nevada, che contiene 2.092.000 tonnellate di carbonato di litio equivalente (LCE) tra risorse indicate e stimate.
Spearmint Resources Inc. (CSE: SPMT) ha anunciado planes para diversificar una parte de sus reservas de efectivo en inversiones en criptomonedas. La empresa destinará hasta el 20% de sus reservas de efectivo específicamente a Bitcoin, Ethereum o Solana a través de una empresa pública. Este movimiento estratégico sigue lo que la empresa percibe como una mejora en el sentimiento cripto tras la victoria del Partido Republicano en las elecciones de EE. UU.
La empresa mantiene su enfoque principal como operación minera con activos que incluyen el depósito de arcilla de litio McGee en Clayton Valley, Nevada, que contiene 2.092.000 toneladas de equivalente de carbonato de litio (LCE) entre recursos indicados e inferidos.
Spearmint Resources Inc. (CSE: SPMT)는 현금 보유액의 일부를 암호화폐 투자로 다각화할 계획을 발표했습니다. 회사는 현금 보유액의 최대 20%를 비트코인, 이더리움 또는 솔라나에 공공 회사를 통해 할당할 것입니다. 이 전략적 결정은 공화당의 미국 선거 승리 이후 암호화폐에 대한 긍정적인 정서를 개선된 것으로 회사가 인식한 데 따른 것입니다.
회사는 네바다 클레이턴 밸리에 위치한 맥기 리튬 점토 매장지와 같은 자산을 가진 채굴 작업에 주력하고 있으며, 2,092,000톤의 리튬 탄산염 동등물 (LCE)을 포함한 자원을 보유하고 있습니다.
Spearmint Resources Inc. (CSE: SPMT) a annoncé des plans pour diversifier une partie de ses liquidités dans des investissements en cryptomonnaies. L'entreprise allouera jusqu'à 20% de ses réserves de liquidités spécifiquement dans Bitcoin, Ethereum ou Solana via une entreprise publique. Ce mouvement stratégique fait suite à ce que l'entreprise perçoit comme une amélioration du sentiment crypto après la victoire du Parti Républicain lors des élections américaines.
L'entreprise maintient son objectif principal comme opération minière avec des actifs comprenant le dépôt d'argile de lithium McGee dans la vallée de Clayton, Nevada, qui contient 2.092.000 tonnes d'équivalent carbonate de lithium (LCE) parmi les ressources indiquées et inférées.
Spearmint Resources Inc. (CSE: SPMT) hat Pläne angekündigt, einen Teil seiner Barbestände in Krypto-Investitionen zu diversifizieren. Das Unternehmen wird bis zu 20% seiner Barreserven gezielt in Bitcoin, Ethereum oder Solana über ein öffentliches Unternehmen investieren. Dieser strategische Schritt folgt dem, was das Unternehmen als verbessertes Krypto-Sentiment nach dem Sieg der Republikanischen Partei bei den US-Wahlen wahrnimmt.
Das Unternehmen bleibt primär auf den Abbau konzentriert und besitzt Vermögenswerte, einschließlich des McGee-Lithiumtonerdepots im Clayton Valley, Nevada, welches 2.092.000 Tonnen Lithiumcarbonatäquivalent (LCE) in ausgewiesenen und geschätzten Ressourcen enthält.
- Has significant lithium resources with 2,092,000 tonnes of LCE at McGee deposit
- Maintains strong cash position enabling diversification
- 20% of cash reserves being diverted from core mining business to volatile crypto assets
- Departure from traditional mining focus could increase investment risk
Vancouver, British Columbia--(Newsfile Corp. - November 13, 2024) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") wishes to announce that the board has decided to diversify a portion of the cash on hand into the crypto market.
James Nelson, President of Spearmint stated, "With the Republican Party winning the USA election, the sentiment towards crypto has become much friendlier. We plan to take a portion of the cash on hand and move it into the highest quality portions of the crypto market. Management feels that the longer term prospects of high quality crypto may outperform the banking rates and it makes sense to allocate a portion of our cash on hand to this area."
About Spearmint Resources Inc.
Spearmint's projects include four projects in Clayton Valley, Nevada: the 1,136-acre McGee lithium clay deposit, which has a resource estimate of 1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE, directly bordering Pure Energy Minerals & Century Lithium Corp.; the 280-acre Elon lithium brine project, which has access to some of the deepest parts of the only lithium brine basin in production in North America; the 124-acre Green Clay lithium project; and the 248-acre Clayton Ridge gold project.
Cautionary note and disclaimer on the crypto diversification:
Management plans to look at Bitcoin, Ethereum or Solana and will not allocate more than 20 percent of the cash on hand to this plan. Spearmint is a mining company and not an investment issuer and has no plans to pursue that. Management feels that allocating a portion of the cash may benefit the shareholders. All allocated capital will be through a public firm and will not exceed 20 percent.
Qualified person for mining disclosure:
The technical contents of this release were reviewed and approved by Bain, PGeo, a director of the company and qualified person as defined by National Instrument 43-101.
Contact Information
Tel: 1604646-6903
www.spearmintresources.ca
"James Nelson"
President
Spearmint Resources Inc.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229729
FAQ
How much of Spearmint Resources (SPMTF) cash will be invested in crypto?
What lithium resources does Spearmint Resources (SPMTF) have in Clayton Valley?
Which cryptocurrencies will Spearmint Resources (SPMTF) invest in?
