Sungro Minerals Inc. (the "Company" or "Sungro") was incorporated under the laws of the State of Nevada on August 10, 2007.
Where you can find us
We are located at 111 Airport Road - Unit 5, Warwick, RI 02889. Our telephone number is (401) 648-0805, our facsimile number is (401) 648-0699, our e-mail address is info@sungrominerals.com, and our homepage on the world-wide web is at http://www.sungrominerals.com.
About Our Company
Sungro Minerals, Inc. is an early stage Mining and Exploration Company seeking to acquire, develop, and manage various mineral properties and resources. In August 2009, the Company entered into an agreement to acquire the mineral rights to 341 unpatented lode mining claims known as the Conglomerate Mesa, located in Inyo County, California. The Company continues to evaluate other properties for acquisition or development. In February, 2009 the company filed a registration statement on Form S-1.
Conglomerate Mesa Claims
Pursuant to an agreement dated August 27, 2009 we acquired, subject to completion of the payment terms, the mineral rights to 341 unpatented lode mining claims know as the Conglomerate Mesa from Mr. Steven Van Ert, and Mr. Noel Cousins, the registered owners of the Conglomerate Mesa Claims. The Conglomerate Mesa Claims are located in Inyo County, California.
In order to complete the acquisition of the Conglomerate Mesa Claims, Sungro has made payments of cash and stock to Mr. Steve Van Ert and Mr. Noel Cousins in accordance with the table below:
Cash Stock1 Steven Van Ert $170,000 2,210,000 shares
Noel Cousins $ 30,000 390,000 shares
Total $200,000 2,600,000 shares 1 - Shares issued into escrow and to be released in accordance with the schedule below:
Escrow Release Date Steven Van Ert Noel Cousins Total February 2010 255,000 45,000 300,000 January 1, 2011 425,000 75,000 500,000 January 1, 2012 425,000 75,000 500,000 January 1, 2013 425,000 75,000 500,000 January 1, 2014 425,000 75,000 500,000 January 1, 2015 255,000 45,000 300,000 Total 2,210,000 390,000 2,600,000
Now they aren't thinking about doing a replay of another play are they? This isn't the same property by any chance is it?
Cruce Project
The Company, on June 10, 2006, entered into an agreement with private individuals regarding the Cruce exploration project. This property is located in northwest Pinal County, Arizona in T8S, R14E, section 16 and has a history of gold and copper exploration. The Company acquired a 100% interest in the mineral lease for $15,000 and the issuance of 100,000 restricted common shares of its stock. The vendors retain a 2% Net Smelter Return royalty and received an advance royalty of $20,000 on the first anniversary of the agreement; $25,000 on the second anniversary (which has been paid) and can receive $25,000 on subsequent anniversaries. These advance royalties will be deductible from future production royalty payments.
Location
The property is situated on a 560 acre State lease identified as permit number 08- 113008. The Company has staked and now holds 32 additional lode claims, designated as CR 3 – 4 5 3, on surrounding BLM ground covering an area of approximately 660 acres. The property lies about 30 miles north of Tucson, AZ. The county maintained Willow Springs Road, accessible year-round from Oracle Junction, crosses the property. A high-voltage transmission line cuts across the property. There is no other infrastructure in the area.
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