This is my take from just looking at the chart. There was a recent promotion that alerted people to the company hence volume/buying from about June 13. The stock moved up and then stalled out at about .50 so some took profits and since then there has not been any real bid support so there has been a further small volume selling panic (in terms of the overall previous buy volume), but by now all inverters still in from the promo are underwater.
From my initial research the company is has good projects, low number of shares and plenty of cash - in fact it is possibly trading at its cash value at the current price. So my reason for posting here in the first place is that I like to to my DD and monitor the progress of the PPS, especially after a promotion.
If I were a share holder I would be looking to understand what are the near and long term developments or milestones expected by the company to support a higher PPS in the future to assist me regarding my level of confidence in the stock. One thing you may like to consider when entering a stock like this is to take a smaller position initially and then add to it on any significant pullback if you still like the fundamentals, or add more if the stock begins move on up with good bid support.
On a technical note regarding the chart, both MACD and RSI are making higher lows with a lower PPS is generally considered a leading indicator for a bounce/imminent reversal in the PPS.
For more info and history on Spur I checked out the report at http://www.spur-ventures.com/_resources/financials/Spur_Ventures-2010_AIF.pdf
In case you missed it, the recent promotion by WSG also makes a fairly compelling case for the company. http://www.wallstreetgrand.com/SVU.html
I am am neither associated with the Spur or WSG -