There are many excuses as to why the price of gold has fallen over -30% in the past 9 months. Some say it’s because of the bitcoin factor, some say it’s the Goldman conspiracy theory. Whatever it is, using one of the most famous investors of all time, George Soros, to help pump Sanborn Resources, Ltd. (SANB), traders swarmed like fleas to a bad smelling dog Monday to get their piece of the pie. Trading for just its 2nd consecutive day since the 100-for-1 forward split in March, even if Soros “just invested $25,000,000 in gold mining penny stocks“, SANB stock would surely not qualify for one he would do anything other than short.
Our Next Pick Is Coming Soon! Click HERE To Make Sure You Don’t Miss Any Of Our Breaking Alerts!
SANB Stock Quote
Market Cap: 17.71M
Last: 0.44 ▲ +0.06 (+15.79%)
Dollar Volume: $995,271
Issued and Outstanding: 40,250,000
James Dale Davidson: 250,000
S-1 Offering: 40,000,000 @ $0.001
Looking for Hot Penny Stocks?
Click here To Receive FREE Penny Stock Alerts
Originally set up as Universal Tech Corp., with Avinoam Cohen (President, CEO, Treasurer and Director) and Anna Irena De Vincenz (Secretary and Director), art sales was the focus and they actually managed to sell some. For the year ended December 31, 2012, the Company managed to book $78,500 in revenues, but decided to take a change in direction.
On April 15, 2013, Rae Wallace Mining Co. (RAEW) announced that it sold its wholly owned subsidiary, Rae Wallace Peru S.A.C., to a private company (Inti Holdings, a Cayman Islands corp. formed for the transaction and recorded as a wholly owned subsidiary of Sanborn Resources) for $700,000. The $700,000 was actually a note payable issued by the now Sanborn Resources amounting to $775,000 bearing interest of 8% per annum and is due after 13 months.
Now that Sanborn Resources had Peruvian gold mining rather than art sales to push it, it needed a name behind it that could better represent SANB than Avinoam Cohen. In comes James Dale Davidson, CEO and Director, and Adam Wasserman, CFO.
Davidson, a private investor for the most part, has served as President, CEO, CFO, Treasurer, Secretary and Director of California Gold Corp. (CLGC) since 2007 as well as a Director of TurkPower Corporation (TRKP) since 2011. With a decent resume of involvements in other companies like VP and Secretary of NMX Holdings, Chairman and a Director of Ouro do Brasil Holdings Ltd., and Director of Core Values Mining and Exploration, Ltd., a of which were private companies, a face can now be put on Sanborn which makes it seem like it might actually do something.
On the other hand, you would need more than just yourself if you were to count by fingers how many penny stocks, especially Chinese based ones, Wasserman has been involved with as the sitting CFO or secretary. Wasserman currently serves as the CFO of Oriental Dragon Corp. since June 2010, Apps Genius Corp. (APGS) since January 2010, and Pershing Gold Corporation (PGLC) since September 2010.
All in all, Sanborn Resources and their newly launched website are about as ready to actually do some gold digging as the kid who just banked $200 in profit off of the run MYEC has had in the last 2 months. SANB stock is hot now thanks to the landing pages like this and the circulated emailer which got he attention of traders on Monday. With the history of people involved and the insiders who own shares at $0.001, their downside is so small that SANB stock could be hot for them at $0.01.
About SANB Stock
Sanborn Resources, Ltd., through Rae Wallace Peru, their wholly-owned private Peruvian company, is a development stage company with limited operations that controls 7 gold-silver exploration projects in southwest Peru.
Last 5 Trading Sessions:
The argument that gold, a widely accepted inflation hedge, could again become bullish, with global banks printing money hand over fist to revive their economies, is a simple theory to buy into since inflation, eventually, is going to increase sharply and obliterate the value of cash held in bank accounts and non-index-linked bonds. Is this why George Soros reportedly bought into a gold focused penny stock fund? Perhaps, but since George can be long, SANB won’t last the summer, let alone a couple of trading sessions before the greed factor kicks in. While you might take a chance on SANB stock at 0.44 or above, insiders own it at $0.001 which pretty much gives them the power of control.
Here is your opportunity to subscribe to the Most Read Penny Stock Newsletter
If You Can’t Make Money With Us, You Shouldn’t Be Trading Penny Stocks
(We are 100% Anti-Spam and will never rent or sell your information)Share