South Pac Metals Stock Price, News & Analysis

South Pacific Metals Corp. (OTCQB: SPMEF) announced that the National Court of Papua New Guinea has upheld an interim injunction against K92 Mining and the Mineral Resources Authority (MRA) regarding Exploration Licence EL2558.

The injunction prevents K92 Mining from entering or interfering with the EL2558 licence area and stops the MRA from processing K92 Mining's applications for leases over the area. The National Court awarded costs in favor of SPMC and has offered parties the choice between nonbinding mediation or proceeding to trial.

The core dispute centers on whether SPMC's subsidiary KRL has exclusive rights to apply for a Lease for Mining Purposes (LMP) over its exploration licence area. The EL2558 area is crucial for SPMC's exploration programs and could potentially serve as a tailings storage site.

South Pacific Metals Corp. (OTCQB: SPMEF) has secured an interim injunction from Papua New Guinea's National Court against K92 Mining. The injunction protects SPMC's exclusive exploration rights within the EL 2558 exploration licence area, preventing K92 Mining from entering the area or conducting any activities including sterilization drilling and infrastructure development.

The company has initiated legal proceedings against K92 Mining and the Mineral Resources Authority, seeking declaratory relief to confirm its exclusive rights as the registered holder of EL 2558. The case will proceed with an inter partes hearing on August 22, 2025, to determine if the injunctive relief will continue.

[ "Obtained court injunction protecting exclusive exploration rights on EL 2558", "Legal action maintains control over potential future tailings facility area", "Successfully prevented unauthorized activities by competitor in licence area" ]

South Pacific Metals (OTCQB: SPMEF) has announced strategic marketing and advertising partnerships with two firms. The company has engaged Capital Analytica for a six-month marketing support program at a cost of $120,000, and 45 Degrees for advertising services compensated through stock options.

Additionally, SPMEF has granted 575,000 stock options at an exercise price of $0.55 with an expiration date of July 29, 2030, and awarded 175,000 restricted share units (RSUs) to various consultants and an officer. The company also reported the cancellation of 150,000 previously granted stock options from February 2025.

South Pacific Metals Corp. (OTCQB: SPMEF) has reported significant progress at its Ontenu Central Prospect, part of the Osena Project in Papua New Guinea's Kainantu District. The company has expanded mineralization through its 2025 trenching program, with notable results including 5m @ 2.53 g/t Au within 87m @ 0.41 g/t Au in ONT25TR-001 and 1m @ 5.05 g/t Au within 50m @ 0.35 g/t Au in ONT25TR-003.

The exploration program has identified two main corridors - Westside & Central - each extending over 1,000 meters in length. The overall gold in soil anomalies now cover a 3 x 5 km area. The company has completed an additional 532m of trenches awaiting analysis and is preparing for an imminent drilling program, with the rig already in-country being commissioned.

South Pacific Metals (OTCQB: SPMEF) has appointed Timo Jauristo as its new Chief Executive Officer, effective June 30, 2025. Jauristo brings over 40 years of mining sector experience, notably serving as Executive VP of Corporate Development at Goldcorp Inc. and holding senior positions at Placer Dome.

The appointment comes as SPMEF prepares to launch its maiden drill program at Osena. The company has also granted 200,000 stock options at $0.49 per share and awarded 1,000,000 restricted share units (RSUs) to directors and officers, both vesting over three years.

South Pacific Metals Corp. (SPMEF) announced that President Cathy Fitzgerald will step down from her roles as officer and director, effective July 11, 2025. Executive Chair Michael Murphy acknowledged Fitzgerald's significant contributions to the company's growth and exploration strategy. Murphy will travel to Papua New Guinea to oversee preparations for the company's first drill program at the Osena Gold-Copper Project in the Kainantu Gold Region, with drilling expected to begin later in June 2025.

South Pacific Metals Corp. (SPMEF) has appointed Timo Jauristo as Strategic Advisor, bringing over 40 years of mining industry expertise to the company. Jauristo's impressive background includes serving as Executive VP of Corporate Development at Goldcorp Inc. and holding senior executive positions at Placer Dome, where he contributed to advancing major gold and copper projects. He currently serves as an independent director at Integra Resources Corp. As part of his appointment, Jauristo has been granted 500,000 share options at C$0.50 per share, exercisable over five years with a structured vesting schedule. His appointment comes as SPMC prepares for its maiden drill program at the Osena and Anga Gold-Copper Projects in PNG's Kainantu Gold Region.

South Pacific Metals Corp. (SPMEF) has announced significant discoveries at its Ontenu NE target within the Osena Project in Papua New Guinea, located just 1km south of K92 Mining's Kainantu gold mine. Surface rock samples revealed impressive grades of up to 10.3% copper and 1.7 g/t gold. The company identified multiple gold-in-soil anomalies extending over 500 meters within a 3km mineralized corridor.

Previous trenching at Ontenu Central yielded notable results, including 4m @ 4.52 g/t Au and 79m @ 0.75 g/t Au. The company is currently conducting Phase 2 trenching at Ontenu Central and preparing for a priority drill campaign set to commence in June 2025 with their company-owned diamond drill rig. The Ontenu prospects, spanning a 5km by 3km area, show characteristics of a large-scale gold-copper porphyry system with similarities to K92 Mining's Arakompa Project.

South Pacific Metals has launched a new exploration program at the Anga Project, focusing on the Irinke Extension Gold Prospects along the K92 border. The company has identified four priority gold exploration targets within a 4x4 km area through advanced lithogeochemistry.

Key developments include:

• Confirmation of Arakompa-like geochemical signature at the Irinke Prospect
• Ongoing sampling across prospects with results expected in May/June
• New diamond drill rig arriving mid-June for year-round drilling

The Irinke Prospect, located 1,500m east of K92 Mining's processing plant, has shown promising results with rock samples up to 3.68 g/t Au. Additional targets include Binano North, showing pathfinder elements and potential artisanal workings, and the Golkona Prospects, featuring a large altered intrusive complex with gold anomalies up to 70 ppb Au.