The final week of January was a positive one for long traders with the guts to hold on to their shares in Awesome Penny Stocks’ Swingplane Ventures, Inc. (SWVI). A compensated report on SA circulated mid-day on Friday comparing the start-up asset-less copper miner to some of the real copper miners who saw their share prices rise from the mid-dollar range to as high as $109 after being offered a buy out. While SWVI stock is unlikely to ever break even the mid-dollar range simply due to the fall from glory the promotional group has experienced in recent months, the fact it broke .40 on Friday was a major accomplishment in and of itself.
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SWVI Stock Chart
Market Cap: 184.75M
Last: 0.391 ▲ 0.012 (3.17%)
Dollar Volume: $4,317,493
Since AHP Uncovered SWVI: 176%
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On Thursday, Swingplane Ventures issued an update on their Algarrobo Property, an Iron Oxide -Copper-Gold property located less than 1,000 km north of Santiago, in the III Region, Province of Chanaral, Chile. The report claims that from December 6 to 9th, 2012, a second property evaluation was undertaken on the Property which basically stated that samples recovered documented very high grade copper grades.
While we have seen statements like this made of a similar nature when another Awesome Penny Stocks promotion which was going on exactly one year ago today, North Springs Resources (NSRS), that exploration never amounted to anything but PR fluff. In fact, the property which was said to have been the new gold mine for investors, the Edum Banso Gold Project in Ghana, is now the main property for another Carrillo Huettel LLP shell set up, Discovery Gold Corporation (DCGD).
For those not familiar with the group, Awesome Penny Stocks has had a history of promoting shell corporations with lease agreements as assets which have been incubated by the San Diego boutique law firm specializing in corporate law, family law, litigation, mergers and acquisitions and securities. Rumor has it the firm has shut its doors and vacated the premises after the black SUV brigade decided to finally pay them a visit back in November.
Regardless of the PR update and the comparison reports putting Swingplane Ventures along side Hudbay Minerals (NYSE: HBM), the “top dog” spot for OTC trades has been relinquished due to the groups multiple failed attempts to hit their target prices.
While Copper prices are soaring at present and history shows us that Inmet Mining Corp. (TSX: IMN) received a $5.1 billion dollar buyout offer a few weeks ago, an exploration company that used to trade at $1.60, and that Southern Copper Corp (NYSE: SCCO) used to trade for $1.50, SWVI stock will have to settle for setting another new high on Friday, ending each day this week “green” and in the Top 10 Penny Stocks Traded on the OTC.
Friday’s Top 10 Penny Stocks Traded On The OTC
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All in all, it was a decent week for the soon to dump and crash shares of Swingplane Ventures, the third pump and dump Awesome Penny Stocks has done now with the name “Ventures” in it. Friday, however, was all about the weed. On that note – enjoy the weekend and the Super Bowl (or at least the food and the commercials).
About SWVI Stock
Swingplane Ventures Inc., having entered into the share exchange agreement with Mid Americas Corp. for the rights to acquire 75% of certain mining concessions in Chile was expected to execute this agreement by January 26, 2013. The closing of the transaction was reported to require audited financial statements of Mid Americas and the filing of a Super 8K, both of which were scheduled to occur prior to January 31, 2013.
Click here to view the SEC filings for SWVI.
Last 5 Trading Sessions:
Bottom Line: The new high set once again this week on SWVI still puts it in the category of extremely risky penny stocks. Awareness campaigns from the group have not been as good or long as they used to be, and with the new promo flyer out in circulation (see here), a copy of the SWVI stock hard mailer basically, the days are numbered for this copper digger to get buried.
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