The penny stock of All Grade Mining, Inc. (HYII), formerly known as Hybred International, may have finally found the bottom from its .90 high in May. Shares in the late SEC filer have been sliding for five months already but today’s bullishness on HYII stock has caused some radar screens to light up with hopes that the cashless as of March 31 miner could be making the moves needed for a run.
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HYII Stock Chart
Market Cap: 2.47M
Last: 0.029, up 0.004 (16.00%)
Dollar Volume: $22,938
Average Trade Size: 22,535
Issued and Outstanding: 85,058,759
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Back in January of this year, All Grade Mining, pursuant to Chilean laws, rules and regulations, filed a feasibility study as part of the permitting process for the Salitrosa mine. The idea is to extract iron magnetically.
In June, the Company finalized an agreement to acquire the Jose delTransito copper mine in Chile. All Grade Mining, through its wholly owned Chilean subsidiary All Grade Mining Chile, SA, acquired the copper mine, located in Ovalle, Chile, for 5 million shares of restricted HYII stock. The mine supposedly also was acquired with a permit from Enami, the Chilean buying house for all minerals in Chile, to sell up to 1,200 tons of copper per month. Excellent.
Although no reports of revenues have surfaced from the miner since these announcements, the Company somehow managed to exercise a prepay option to repay an outstanding convertible debenture with Asher Enterprises for the full amount including interest totaling $50,000 which closed their outstanding loans from Asher. What investors need now is for All Grade to come current with their 10-Q’s so that they can have more confidence in putting some risk capital into it and have OTCMarkets remove the “Yield” sign from their ticker.
About HYII Stock
All Grade Mining, Inc. and Subsidiary, a development stage company, is currently engaged in the acquisition and exploration of mining properties in South America, primarily Chile.
Click here to view the SEC filings for HYII.
Bottom Line: HYII has gotten rid of the king penny stock dumper of all financiers which could have opened the door for traders to finally step into take their chances. Mining in Chile is huge and if these contracts and agreements can be put to good use, perhaps the shareholders of HYII stock could find a way to crawl out of the 87 cent drop since May.
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