Wednesday, September 26, 2012

SUGO - From Zero To Hero

SUGO started September as an unwanted stock with almost no buying to speak of and then volume started to come.  The company then issued a well timed press release that has since helped push the stock up to $.0008 a share today from $.0001 earlier this month.

Can the stock sustain the positive momentum and head to $.002 or better?  Recent money volume tells a good story about the potential price movement from here.  If we see the money continue to pour into the stock, SUGO could put in another 50-100% based purely on momentum and buying interest.

Sungro Announces Creation of New Subsidiary, Sungro Minerals Africa

WARWICK, RI, Sep 18, 2012 (MARKETWIRE via COMTEX) -- Sungro Minerals, Inc. (OTCQB: SUGO), an Exploration Stage Mining Company, announced today that it has established a wholly-owned subsidiary named "Sungro Minerals Africa." In a departure from its previous domestic development efforts, Sungro Minerals, Inc. has created Sungro Minerals Africa to acquire mineral rights throughout the African continent. To date, the company has identified several promising and significant opportunities, and in May of this year, representatives of the Company travelled, at the invitation of the government, to one of the countries that has significant opportunities. The Company is currently in negotiations to acquire various parcels and will update shareholders as to future developments.
In other matters, the Company is working with its legal team to address the chill placed on deposits of the Company's common stock by the Depository Trust & Clearing Corporation (DTCC). The Company has received a listing of transactions that require substantiation, and believes that once the proper documentation and attestations are provided, that the DTCC will remove the deposit chill.
About Sungro Minerals, Inc. Sungro Minerals, Inc. is an early stage Mining and Exploration Company seeking to acquire, develop, and manage various mineral properties and resources both in the United States and around the world.
Cautionary Note to U.S. Investors This press release may use the terms "measured resources," "indicated resources," "inferred resources," and "historical resources" which are calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification system. The United States Securities and Exchange Commission (the "SEC") does not recognize these terms and the SEC guidelines (Industry Guide 7) provide that such terms shall not be included in a registrant's filings with the SEC (unless required to be disclosed by foreign or state law). The SEC permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "inferred mineral resource" will ever be upgraded to a higher category. U.S. investors are cautioned not to assume that any part or all of a measured, indicated or inferred resource exists or is economically or legally mineable. U.S. investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from the SEC's website at