JMP Daily Drill Bits for November 10: $MTU $SMN $AMY

Manitou Gold (MTU, $0.09 +30% Vol: 200,000)
Shares Outstanding: 62,372,411
Today’s action in MTU came from one buyer, which would not normally trigger an alert from us.  However company fundamentals are strong enough to elicit a mention here.  Manitou had it’s IPO in 2009 with the Kenwest gold project acquired from Goldcorp.  The stock was bouyant from 2010 and through 2011 on encouraging results from an extensive exploration program involving soil sampling and drilling.  In Jan 2011 the company announced an intercept of 53,700 g/t Au uncut over 0.5 meters, including 3,497 g/t uncut over 8.45 meters.  In March 2011, Manitou completed a $10 million private placement at 0.55/share. As the junior resource sector doldrums set in, shares slid throughout 2012, however the company managed to attract a $600,000 investment from Robert McEwen.  Fast forward to today – while there have been no news on the exploration front for over a year, the company has just completed a $350,000 financing, indicating resumption on the highly prospecting gold project may be near.

San Marco Gold (SMN, $0.19 +19% Vol: 210,400)
Shares Outstanding: 46,281,082
San Marco has an agreement in place (as of May 2016) with uniquely named GlobeTrotters Resource Group to generate and acquire highly prospective gold projects in Sonora, Mexico.  GlobeTrotters applies a unique set of filtering algorithms to large-scale sets of remote sensing media followed by rigorous ground proofing to select and stake the highest potential targets, many of them previously unrecognized and untested.”  The joint venture staked it’s first three concessions in Sept 2016, and has started sampling on one of the targets (news October 9 2016).

American Manganese (AMY, $0.265  +66% Vol: 22,593,200)
Shares Outstanding: 136,153,003
AMY is riding the lithium craze with its proprietary hydrometallurgical process for the recycling of cathode materials of lithium ion electric drive vehicle (EDV) batteries.  With first generation EDV batteries reaching the end of their life cycle, recycling and recovering cathode material from this supply presents a big opportunity for AMY shareholders.  A reported 276,000 EDV batteries expired or left service in 2015.  It’s estimated that this number will increase to 358,000 by 2020 and 849,000 by 2025.  The company today announced a successful passing of it’s Phase 3 test, confirming “that rechargeable lithium-ion battery coin cells can be successfully produced from lithium-cobalt cathode material regenerated using American Manganese’s proprietary process.”