JMP Daily Drill Bits for November 3: $SIC $SNL $PPP

Sokoman Iron (SIC, $0.10 +186%)
Shares Outstanding: 23,050,438
Sokoman is focused on acquiring and exploring Gold and base metal projects in Newfoundland.  On October 14th Sokoman announced the acquisition of the Crippleback Creek gold prospect, located in the “emerging Valentine North Trend” of Central Newfoundland.  The project is contiguous with, and lying on the same structure as, Altius Minerals Corp.’s recently announced Alder zone gold discovery (which lies along the same structural trend hosting Marathon Gold’s Valentine Lake project).  Interestingly enough, today Shaun Wallace’s Stratton Resources (SI) announced a significant acquisition (119,000 Ha.) in the same locale.  Mr. Wallace is known for assembling the massive Committee Bay project for Auryn Resources (AUN).  He’s well known and respected in the industry, so SIC’s dramatic move today could have been tied to Mr. Wallace’s grand entry into their backyard.  Also note that the Stare’s brothers (Michael and Stephen) took part in the 0.02 PP earlier this year.

Southern Lithium (SNL, $0.38 +72.7%)
Shares Outstanding: 29,300,000
The latest entry into the increasingly crowded lithium exploration space is Southern Lithium, and it appears investors still have a risk appetite for the stragglers. October was a busy month for Southern Lithium, where they split their shares 2:1, changed their corporate name then today announced the acquisition of 80% of the Cruz lithium project in Argentina.  The project was optioned from Millennial Lithium (ML).  The company will have to raise further capital to finance exploration, as their last PP for $160,000 was conducted at 0.025/share (post-split) in July.

Parlane Resources (PPP, $0.22 +69.2%)
Shares Outstanding: 12,696,265
Robert Eadie’s PPP is exploring their large flagship Big Bear project located in the prolific Omineca Mining disctrict of B.C.  The Big Bear property,  hectares 27,335, is adjacent to, and in proximity of, New Gold’s 8.2 million ounce Blackwater gold deposit.  PPP shares moved on no news today, however given the success and increasing importance of the district, and extremely tight share structure, investors seem to be warming up to the company.