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n. Another term for male ejaculate.
See also jizz, man gravy, baby gravy, grumble mayo, man chowder, manfat, Man lard, crumpet batter.
v. To waste money e.g. I see the MOD's just spunked £3m on another failed project.
The inadvertent leakage of spunk whilst drooling over the hoped for potential action with a foxy chick is known as Creme De Pants.