Supporters of the cash dividend and possible gold rush created by Southridge Enterprises Inc. (SRGE) got something better than a dividend payout update to end the week. Rather than just some more fluff, the cash-rich exploration Company trumped all nay-sayers by leading the pink sheets listed penny stocks in trades Friday after hiring the legal representation of Carrillo Huettel LLP according to their OTCMarkets directed PR issued early Friday morning. The move to new legal representation fueled SRGE stock to close right at the same level it traded at when the Company declared their cash dividend payment at the beginning of the month.
With plans to file their annual report and advanced discussions having occurred with two major NYSE listed metal producers regarding their Jalisco mineral concessions and properties, this little engine could be picking up steam rather than blowing out smoke and should be watched closely come Monday.
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While other gold and silver explorers like Gryphon (GYPH) are seeing their PPS decrease while revenues increase, Southridge’s recent rally on Friday surely was not because the Company will report its fourth quarter and annual results ending August 31, 2012, reflecting record mineral production, revenues and profits. It surely isn’t because the Company has now distributed funds and completed its dividend payout one day early on November 21, 2012, in lieu of the payout date falling on Thanksgiving Day, for shareholders of record on November 15, 2012.
The reason for the Black Friday rally could really just come down to the Company’s news update expected on or before Tuesday of next week. While continuing its dividend payouts on a quarterly basis would be good news, traders want to hear something meatier like the possible acquisition of one of Southridge’s mineral properties in Mexico. See something on that subject matter flash across the screen and SRGE stockholders will be in for a fiesta of a trading session.
About SRGE Stock
Southridge Enterprises Inc., and its wholly owned subsidiary Southridge Minerals, Inc., is a U.S.-based mineral resource exploration company dedicated to acquiring and developing mineral resources in geologically permissible and politically stable areas of the world.
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Bottom Line: SRGE will certainly be a penny stock to have on your list for Monday’s trading session. With all the new alerts that get tossed around on Monday’s, SRGE stock could see a pull back which could be an invitation to profit off their upcoming PR. Just bear in mind that the sizzle can fizzle as and when the PR dies out so keep that optimism under control since SWVI, GNIN and DRHC are all on watch still.
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