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Awesome future ahead for SUGO...
Why would BHP walk away from what they estimated to be 2,000,000 Ounces of gold?
BHP did not choose to walk away from the property or its potential returns. They previously had an agreement with the original "prospectors" and they attempted to "cut out", circumvent, and annul their agreements. The "prospectors" took them to court and after five years of litigation, BHP lost the case and the court awarded all of the claims back to the original prospectors.
How did Sungro get involved with the prospectors? And How did Sungro Minerals get involved with Conglomerate Mesa?
The two questions are related. The prospectors had staked the claims that make up our Conglomerate Mesa project. Originally they entered into an agreement with BHP Billiton. After several years, they found that some of the documents that BHP had requested they sign actually undermined their contractual rights to future payments. They sued BHP and after a 5 year battle, were awarded back all of the claims by the court. During the discovery phase of the trial, all of the historical documentation on exploration and development were provided to the prospectors. Subsequently, the prospectors entered into an agreement with Timberline. Timberline defaulted on their payments to the prospectors and ultimately lost the rights to continue exploration and development of the site. After winning back their claims, they contacted our Consultant who had spoken with them a number of years before and had proposed an alternative to fund development of the project. They contacted him, and he arranged for the claims to be assigned to Sungro Minerals. Sungro has been working to complete the necessary exploration and ultimately bring the project to production for the last two years.
Sungro does not anticipate permitting issues. Permits for this property were issued to BHP Billiton and Sungro intends to renew those permits once funding is obtained. Like any mining company we expect to pass both production and environmental reviews. The Company anticipates being able to move the process of permitting along in a reasonably efficient manner with nominal difficulties.
You da man...Hope you get a chance to talk to the CEO and get an even better understanding of where the company is headed.
WNRC, IMO, isn't priced correctly...there is opportunity here. Lot of good developments...and those developments will turn into news, news will bring awareness, and ultimately get the price to where it should be.
Couple of key points:
Net Income for Q1, expecting Net Income for following quarters.
Cable companies/TV/Radio Stations were financed by the CEO.
Share buy back is happening or in the process of happening. WNRC will put out news as shares are deleted by the transfer agent.
WNRC is actively negotiating with companies for cable acquisitions.
Cable company is updating it's system to provide HD, Phone, Internet, etc. - customers want this and customers will upgrade (and pay more).
CEO doesn't issue shares to anyone.
I bought 10k at $.185 today. Bid support.
All of the "old" news is "new" news when they have to report on the development. I'd waste a few minutes of my time rehashing everything for you, but I doubt it will do you any good...so just read Licker's post...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64244681
Divide 90 Million Shares by $15 Million and you get $.167/share.
Asset Value of JUST THE CASH is $.167+
After I lost a bunch of money on Owens Corning I stayed away from the BK giants :(
Enough mineralogical testing has been completed for our geologist to advise that the cost to extract is definitely economical. Our geologist estimate the extraction cost not to exceed $500 per ounce.
-SUGO
Awesome pick with SUGO...
GREAT DD Page on SUGO...
http://www.sungrominerals.com/FAQ.php
Sungro does not anticipate permitting issues. Permits for this property were issued to BHP Billiton and Sungro intends to renew those permits once funding is obtained. Like any mining company we expect to pass both production and environmental reviews. The Company anticipates being able to move the process of permitting along in a reasonably efficient manner with nominal difficulties.
Would the USD $10 million financing, as mentioned in our Press Release dated February 17, 2011 bring the mines into production?
No, the purpose of the $10 million is to bring the mines to the point that allows the start of production. The achievement of "feasibility" as this stage is known is to lay out the mining methods, have the permitting under way, and solidify the actual values of what is on the property. Typically, this effort results in "proven" reserves of minerals that are much greater than the current report indicates. In addition, the use of the remaining funds will allow the company to "graduate" to a more established exchange.
Other than the expected 2,000,000 Ounces of Gold...
As per the NI 43-101 the following mineral deposits are expected as follows:
Silver: 249,640,000 Ounces
Lead: 4,803,200,000 Lbs.
Zinc: 18,012,000,000 Lbs.
Copper: 31,000,000 Lbs.
Based on the findings outlined in the NI 43-101 Report, the gold deposits per ton are at Commercially concentrated levels:
5 feet @ 0.103 opt Au
6 feet @ 0.124 opt Au
7 feet @ 0.251 opt Au
10 feet @ 0.030 opt Au
15 feet @ 0.105 & 0.208 opt Au
20 feet @ 0.038 opt Au
40 feet @ 0.151 & 0.370 opt Au
140 feet @ 0.123 opt Au
For further reference please see pages 2, 39, 41-43, 47-51 in the NI 43-101 Report. View Report
There have already been over 80 holes punched in Conglomerate Mesa with the total amount of drilling in excess of 10,000 feet.
Enough to know there is a plethora of minerals down there :)
Total shares increased 5% in the last year? Wow...That *IS* good news! Especially with all they have accomplished.
Thanks for the DD!
Killer day on SUGO! :)
SUGO Ended 0.037 UP 0.017 (85.00%)
Tomorrow should be interesting. ;)
But, what I really want to see is what the stock price does when SUGO puts out a drilling PR :D
If you call in an order and they say they are going to put it in, and if the stock price goes above it and they don't execute...lawsuit. ;)
Track Corn and Cow ;) Put up that chart :D
7.6 Million Traded. Float 10.5 Million.
Something is going to give :)
They will if you call them. :)
Nice day, great news, like where this can go.
Going to be interesting to see the T trades...
T trades above $.038 should be very good news for SUGO.
Bet we go over 8 Million :)
7 MILLION IN VOLUME...hrmm...no one must be watching this stock :)
Throw a bid up...I'm sure these guys will try to hit the bid near the close. Margin call probably isn't too far away. :)
SHORT SQUEEZE ALERT!
#1 ON THE BREAKOUT BOARD!
http://investorshub.advfn.com/boards/hotboardsrelative.aspx
Over the next few weeks I see SUGO as a SHORT SQUEEZE play...I'm sure if people want to make that play they can make some money. The long-term play here is HUGE! Never know when news is going to come, and you lose a lot of money without shares overnight :)
SUGO L2 Looks great, but the next piece of news (hopefully, money in the bank) will knock the cover off the ball.
I tend to think people that can write $15 Million checks are pretty smart. And, have done their DD. Unless RBtree has $15+ Million, I'd probably go with the people who have money and do what they do. ;)
Keep those GTC Sell orders in place up high...
Short Squeeze isn't too far away.
$.04s on L2 cleared out a lot. Hmmm.... :)
We should continue to trade here until news...News is KING!
IMO $.20-.25 is a great range to take some on.
Yep, COW is good consistent upward movement IMO from here on out.
SUGO is a HUGE pick here...news out today was phenomenal. More to come!
NET INCOME is sustainable...a good chunk was one time, but Net Income should grow from here on out. I'm not sure how much they 'net' per subscriber, but it is positive...and, they keep adding subscribers, ergo...once we get a baseline net income will continue to go up pending adding subscribers (which they are doing).
They should start selling internet, HD, phone, and more soon. Should really help to boost the numbers.
UP ONLY 90% TODAY ;)
MINERAL VALUE - JUNE 14, 2011
4,800,000,000 pounds of lead priced at $1.14 per pound RESERVE EST. $5.472 BILLION
2,000,000 ounces of gold priced at $1517 per ounce RESERVE EST. $3.034 BILLION
250,000,000 ounces of silver priced at $34.81 per ounce RESERVE EST. $8.702 BILLION
Zinc Reserve Estimated at RESERVE EST. - $18 BILLION
I LOVE MURATIC ACID :)
If you ask me...Owen's Lake (and I've been there) looks like throw up.