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. Spearmint maintains its primary focus as a mining company, with notable assets including the McGee lithium clay deposit in Clayton Valley, Nevada, which contains 2,092,000 tonnes of lithium carbonate equivalent (LCE).
Spearmint Resources Inc. (CSE: SPMT) ha annunciato piani per diversificare una parte delle sue liquidità in investimenti in criptovalute. L'azienda destinerà fino al 20% delle proprie riserve di liquidità specificamente a Bitcoin, Ethereum o Solana tramite una società pubblica. Questa mossa strategica segue ciò che l’azienda percepisce come un miglioramento del sentimento verso le criptovalute dopo la vittoria del Partito Repubblicano alle elezioni statunitensi. Spearmint mantiene la sua principale attenzione come azienda mineraria, con risorse notevoli tra cui il deposito di argilla di litio McGee nella Clayton Valley, Nevada, che contiene 2.092.000 tonnellate di equivalente di carbonato di litio (LCE).
Spearmint Resources Inc. (CSE: SPMT) ha anunciado planes para diversificar una parte de sus reservas de efectivo en inversiones en criptomonedas. La compañía destinara 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 un sentimiento mejorado hacia las criptomonedas tras la victoria del Partido Republicano en las elecciones de EE. UU. Spearmint mantiene su enfoque principal como empresa minera, con activos notables 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).
Spearmint Resources Inc. (CSE: SPMT)는 현금 보유액의 일부를 암호화폐 투자로 다각화할 계획을 발표했습니다. 이 회사는 Bitcoin, Ethereum 또는 Solana에 대해 현금 보유액의 최대 20%를 공공 기업을 통해 할당할 예정입니다. 이 전략적 움직임은 공화당의 미국 선거 승리에 따른 암호화폐에 대한 긍정적인 감정을 개선한 것으로 회사가 인식하고 있는 것에 따른 것입니다. Spearmint는 주로 광산 회사로서의 초점을 유지하며, 네바다 클레이턴 밸리에 위치한 McGee 리튬 점토 매장지 등 주목할 만한 자산을 보유하고 있으며, 이곳에는 2,092,000톤의 리튬 탄산염 동등량 (LCE)이 포함되어 있습니다.
Spearmint Resources Inc. (CSE: SPMT) a annoncé des projets pour diversifier une partie de ses liquidités dans des investissements en cryptomonnaies. L'entreprise allouera jusqu'à 20% de ses réserves de liquidités spécifiquement à Bitcoin, Ethereum ou Solana par le biais d'une entreprise publique. Ce mouvement stratégique fait suite à ce que l'entreprise perçoit comme une amélioration du sentiment envers les cryptomonnaies après la victoire du Parti républicain lors des élections américaines. Spearmint maintient son principal intérêt en tant qu'entreprise minière, avec des actifs notables comprenant le gisement d'argile de lithium McGee dans la Clayton Valley, au Nevada, qui contient 2,092,000 tonnes d'équivalent carbonate de lithium (LCE).
Spearmint Resources Inc. (CSE: SPMT) hat Pläne angekündigt, einen Teil seiner Bargeldbestände in Kryptowährungsinvestitionen zu diversifizieren. Das Unternehmen wird bis zu 20% seiner Bargeldreserven spezifisch in Bitcoin, Ethereum oder Solana über eine öffentliche Firma investieren. Dieser strategische Schritt folgt auf das, was das Unternehmen als verbessertes Krypto-Sentiment nach dem Sieg der Republikanischen Partei bei den US-Wahlen wahrnimmt. Spearmint behält seinen Hauptfokus als Bergbauunternehmen, und zu den bemerkenswerten Vermögenswerten gehört das McGee-Lithium-Tonerdevorkommen im Clayton Valley, Nevada, das 2.092.000 Tonnen Lithiumkarbonatäquivalent (LCE) enthält.
- Company has sufficient cash reserves to consider investment diversification
- Clear investment limit set at 20% of cash holdings
- McGee lithium deposit contains substantial 2,092,000 tonnes LCE resource
- Deviation from core mining business into volatile crypto markets
- Exposure to cryptocurrency market risks
- Potential shareholder concern over cash allocation to speculative assets
Vancouver, British Columbia--(Newsfile Corp. - November 12, 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/229568
FAQ
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