The penny stock of Southern USA Resources Inc. (SUSA) ended another solid week of nothing but “green” closes as it is slowly making its way to the top 10 traded list. Shares of the Alabama based gold miner set another year-to-date high on Friday after SUSA stock again closed at its HOD. With mining equipment on site and being tested, making modifications to prepare for its gold production for 2013, the entry level positions off our initial coverage have provided gains thus far of 33.87%.
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SUSA Stock Chart
Market Cap: 49.43M
Last: 1.66 ▲ 0.10 (6.41%)
Dollar Volume: $538,352
14-Day Rel Strength: 48.61%
14-Day Stochastic: 37.78%
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Volume was significantly affected on Thursday when the Company updated investors publicly about their primary processing equipment. As we detailed in our initial alert, part of contribution Charles H. Merchant, Sr. Southern USA Resources CEO and President, made was processing equipment that has the potential to process up to 75 tons of material per hour for approximately 10 hours a day, for 5 days a week. No other gold mining stock in play can say the same.
To reiterate the sexiness of SUSA stock, the float is amazingly small — less than 1 million by our accounts. Therefore, as a PR release has greatly affected the trading pattern, so shall the exposure as Southern USA Resources ended Friday as the 32nd most traded stock on the OTC. Funny how one week ago, Echo Automotive Inc. (ECAU) was at the same position and it too closed at $1.66 but as the top traded penny stock today.
About SUSA Stock
Southern U.S.A. Resources Inc. is a natural resource exploration and development company with an initial focus on the commercial development of historic gold properties in the “Alabama Gold Belt.” Click here to view the SEC filings for SUSA.
Last 5 Trading Sessions:
Bottom Line: Just like ECAU, now up 124% since our alert, SUSA is slowly becoming a very hot penny stock and should be in your portfolio already. With the share structure, assets, and cash on hand to get to work quick in somewhat shallow mines, SUSA stock could soon test the $2 level without breaking 300,000 in share volume simply because there are no shares available.
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