Tuesday, August 7, 2012

Sphere Resources

Sphere resources put out a press release today. The headline, which I'm sure pleased all holders of SPH, reads "Sphere Resources Subsidiary Spartan Gold Ltd Commences Its 2012 Exploration Program at Poker Flats and Ziggurat Properties Nevada, U.S.A."



Sphere Resources is an Australian/Canadian exploration company focused on gold discoveries in the Red Lake District of Ontario and on the Carlin Trend in Nevada. The website has a detailed account of their properties in Nevada, but I'm sure most investors are looking at their poker flats property, which is right next to Gold Standard Ventures rail road property where a large gold zone is being explored.

Although the photos on the website are, unfortunately, quite poor it can be seen that Gold Standard Ventures Railroad property directly borders the poker flats. I'm surprised that, by this fact alone, the SP is still sitting at a measly 0.03. Considering that prior to GSVs $2 pp it was trading at nearly 3 dollars with some of the most hype around it from a junior explorer drilling in the states. Its hard to believe there hasn't been a bit more interest in SPH.

Their website says they have a $1,200,000 exploration budget for 2012 and a $2,400,000 exploration budget for 2013, which I assume is being provided for by their subsidiary Spartan Gold. The relationship between SPH and Spartan (SPAG) is a strange one. SPAG has an option to earn up to 75% interest on the poker flats property and SPH owns 53% of SPAG. The two companies have the same CEO, Malcolm Stevens.

Anyways, SPH may be something to look into. A more detailed write up on SPH will come at some point in the future.

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