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  "documentTitle": "American Battery Metals Corporation / Comstock Mining Inc. (ABML / LODE)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-03-10 00:00:00",
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  "notes": "This is a classic activist short-seller thesis slide, focusing on management integrity and business model viability.",
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      "text": "Buyer Beware: We believe the potential downside for both companies' shares is up to 90%.",
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      "text": "downside risk: 90%",
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      "text": "ABML was incorporated in 2011 but has spent most of its corporate life as a bulletin board penny stock shell... That market opportunity must surely support ABML's $1.4 billion valuation...right?",
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      "text": "We were shocked to learn how many members of ABML management hold other jobs... LODE has been led by Corrado De Gasperis, and under his tenure, LODE has consistently failed to hit its objectives and destroyed millions in shareholder value.",
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      "kind": "paragraph",
      "text": "Wrong. We believe ABML has characteristics of a stock promotion with little chance of success... We find evidence to suggest one of its 'institutional' investors is connected to a FINRA-banned broker.",
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      "kind": "paragraph",
      "text": "Like many investors, Spruce Point has observed the recent outsized gains in clean energy stocks... We believe we have identified two egregious pretenders: American Battery Metals Corporation (ABML) and Comstock Mining (LODE).",
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      "kind": "title",
      "text": "ABML And LODE: Misguided, Retail-Driven, EV Battery Recycling Hype Stories With Up To 90% Downside Risk",
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