That is incorrect. They never spent a penny on their properties. The Company was a scam from day 1. They transferred all the money raised from shareholders to management as "management fees" and never had any intention of conducting a legitimate business.
Since no money was actually spent on exploration, the properties were lost. SHMX owns no properties of any kind, and has not for several years now.
The Company is seriously delinquent in their SEC reporting obligations and is subject to suspension and revocation at any time.
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