With new leadership and experienced in-country teams, the company is prioritizing thoughtful and rigorous technical programs focused on boots-on-the-ground exploration to prioritize discovery across its portfolio. SPMC has four highly prospective projects—KRL South, KRL North, Kili Teke and the May River Project—all located in premier exploration mining regions in Papua New Guinea.
Cyborg Score Rationale
SPMC is a well-positioned junior explorer with district-scale discovery potential in a prolific mining jurisdiction, supported by strategic board appointments (March 2026) and recent capital raises. However, as a pre-revenue exploration company with minimal operational history, execution risk remains elevated.
Top Insights
High-grade intercepts at Onki (9.92 g/t Au, 2.35% Cu) and Jorkol (3.16 g/t Au with 602 ppm Bi) confirm drilling within a mineralised hydrothermal system (April 2026)
Kili Teke is an advanced exploration project situated 40 km from the world-class Porgera Gold Mine with an existing Inferred Mineral Resource
Company shares trade on TSX Venture Exchange (SPMC), OTCQB (SPMEF) and Frankfurt Stock Exchange (6J00)
In November 2025, the company announced a marketed equity offering of up to C$8 million with BMO Capital Markets
Named Competitors
K92 Mining — Gold and copper producer in Papua New Guinea
Pan Pacific Petroleum — Gold and copper exploration and production in Papua New Guinea
Barrick Gold / Zijin — Major precious metals and copper producers in Papua New Guinea
Recent Developments
(April 2026) Simon Jackson appointed to Board of Directors
(November 2025) Announced C$8 million marketed equity offering led by BMO Capital Markets
(April 2026) High-grade drilling intercepts at Onki and Jorkol projects confirm mineralized hydrothermal systems
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