I got a random freebie mailer from some "economic advice" newsletter promoting Sovereign Lithium (SLCO). I generally don't read newsletter publishers who claim to give advice because that is the proper function of financial advisers who hold NASD securities licenses. I searched FINRA BrokerCheck for the newsletter's publisher and did not find a listing for his name. Anyway, this article should be about the stock and not the PR.
Sovereign Lithium's management team has broad experience in corporate transactions but only one person listed at present has obvious experience specific to lithium production. They have an option to acquire ownership of the Big Smoky Valley lithium property. That's it, folks. There's very little in the information they have posted that makes me think they have a solid plan to mine the site if they can raise the capital to buy it.
Read the 10-Q from October 25, 2013. This company used to be called Great American Energy, and before that it was Southern Bella. I have no idea what the previous entities' involvement in catering and entertainment has to do with lithium mining in Nevada. Note the option to explore a property in British Columbia for rare earth elements. I have no idea what that has to do with lithium either. Note the admission of going concern doubts.
Here's the part where I sigh and scratch my head. The SEC suspended trading in SLCO on November 19, 2013. Sovereign Lithium issued a statement on the matter, and said statement is included in that 8-K dated November 19. I'm not interested enough in this company to stick around for the opening bell when trading resumes in SLCO.
Full disclosure: No position in SLCO, ever. I am not a financial adviser. I do not give financial advice to investors.
Sovereign Lithium's management team has broad experience in corporate transactions but only one person listed at present has obvious experience specific to lithium production. They have an option to acquire ownership of the Big Smoky Valley lithium property. That's it, folks. There's very little in the information they have posted that makes me think they have a solid plan to mine the site if they can raise the capital to buy it.
Read the 10-Q from October 25, 2013. This company used to be called Great American Energy, and before that it was Southern Bella. I have no idea what the previous entities' involvement in catering and entertainment has to do with lithium mining in Nevada. Note the option to explore a property in British Columbia for rare earth elements. I have no idea what that has to do with lithium either. Note the admission of going concern doubts.
Here's the part where I sigh and scratch my head. The SEC suspended trading in SLCO on November 19, 2013. Sovereign Lithium issued a statement on the matter, and said statement is included in that 8-K dated November 19. I'm not interested enough in this company to stick around for the opening bell when trading resumes in SLCO.
Full disclosure: No position in SLCO, ever. I am not a financial adviser. I do not give financial advice to investors.
