They don't seem to actually compete. My interpretation is that juniors like this do the very early legwork (poke some holes / interpret results / poke more informed holes...) and if they "prove" the resource enough, they get bought out by one of the bigger players (as part of the bigger players' "exploration" activities). SPX last year was a good example of this.
SFM Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
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