They have a couple of new projects under consideration but my focus here is their Doade Pesqueira property in Spain. The company has performed exploratory drilling in this area since 2003. That's a long time to prospect without starting a mine. The project's NI 43-101 report from April 2014 recaps some data from almost a quarter-century earlier. This report then declares no mineral resources or reserves and recommends spending another CAD$7.5M over the next two years on exploration. Folks, I don't know about you, but a decade of work so far shows nothing but a need to commit more money from investors.
Take a look at their financial statements. The quarterly statement dated September 30, 2013 shows cash on hand of almost $352K, not nearly enough to fund that $7.5M estimated program. Raising more capital means massive dilution for shareholders. Look at that retained earnings deficit, almost $25M! That's a proxy for the amount of capital spent so far with little result except a 43-101 report declaring . . . no resources. The expenses for consulting fees, investor relations, management fees, and professional fees far outpace the expense line for project investigation. I don't invest in junior resource companies where money goes everywhere but into exploration.
This stock has traded in the pennies the entire time it's been public. The reasons for this low valuation should be obvious. If they're not obvious to you, then don't bother reading my blog.
Full disclosure: No position in Solid Resources, ever.