Spectrum Acquisition Holdings Inc. (SPAH) shares got an 84% boost Monday, extending Friday’s gains when the company announced it is developing “small footprint” technologies including a laser guidance system for diamond wire stone cutting apparatus and continuous refractory ore bio-processing apparatus for digesting metal ore with bacteria.
Shares gained $0.31 to close the session at $0.68, with over 7.52 million shares traded. Market capitalization currently stands at 33.3 K and it has 49 K outstanding shares.
Spectrum Acquisition Holdings, a growing mining exploration, technology and services organization, said the two new green mining technologies will minimize the traditionally poisonous and toxic environmental threats posed by the mining industry. Meanwhile, a third apparatus is being developed and is patent pending, which will work in conjunction with the above technologies.
The Company said the present and current mining technology is a mixing and milling and aeration apparatus for digesting metal ore with bacterial comprising a novel axial mixing impeller for use in gold ore biooxidizing reactors. This device includes a crushing roller for acting upon undissolved solids and a gas diffuser for oxygenation at low speeds while befouling the roller.
“We are looking forward to the synergism that will be created once these technologies are connected,” Dale Henry, SPAH CEO, stated in the release.
Spectrum Acquisition Holdings is executing a three-pronged strategy for growth. The Company is acquiring interests in high quality, low-risk gold projects with past production and sizable resources. It is developing technology solutions to enable more sustainable, smaller footprint mineral exploration, production and processing. The company is also pursuing acquisitions of mining sector service companies including operators, mine site service providers, equipment manufacturers, geology firms and technology developers.
SPAH share have gained 1,258.0% in the last 30 days. Year-to-date, the stock is down 95.8%.