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.
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.