Traders looking to catch lightning in a bottle like SEFE are chasing the dream again now that SMA has declared Santo Mining Corporation (SANP) as the pick. Priced well over its true value to begin with, SANP pick is changing hands like a crack pipe in New Jack City. The Dominican based junior mineral explorer has created at least some positive light on the top penny stocks after a week of nothing but shorts and reds, but is it worth the chance after reverse splitting a quarter of a billion shares outstanding to “pretty up” the pump?
Click HERE To Make Sure You Don’t Miss Any Of Our Breaking Alerts!
SANP Stock Chart
Market Cap: 100.65M
Last: 1.60, up 0.70 (77.78%)
Dollar Volume: $6,148,426
Average Trade Size: 7,852
Issued and Outstanding: 64,352,005
Looking for Hot Penny Stocks?
Click here and get Alerts on the Best Penny Stocks FREE
It’s hard to imagine how acquiring 100% of the Walter gold exploration claim in the gold-rich Maimon district of the Dominican Republic could help to boost the price of SANP stock so high a day later. Oh, that’s because SMA is behind it.
This junior mining explorer that had 253,199,996 as of June 14, 2012 and reverse split them 4-for-1 now has control of a highly promising 200 hectare claim is strategically located less than one mile west from one of the World’s largest gold mines, the 25.3-million-ounce Barrick Gold Pueblo Viejo mine and one mile N.E. from the Perilya’s Cerro de Maimon gold mine.
The good news is that the mines are located in the rhythmic hills of the Dominican Repuplic rather than a famished African country which is exactly what the financial statements for the three months ended April 30, 2012 looked like. But, like lightning in a bottle SEFE, company’s are dying to throw money at unproven mining companies that had $80,605 in cash as of April 30, 2012 and a website worth $3,783, less amortization of course, for $123,142 worth of assets.
But forget about Santo Mining Corp.’s assets or ability to convert them – this is about proximity and the stock. Based on proximity, I am an NFL caliber Linebacker since Ray Lewis and I worked out in the same gym and attended the same university. Based on the stock, why not ride the high priced pump on SANP – Money grows on tress these days and cell phones and are free.
If you didn’t know that, then you need to get yourself an Obamaphone.
Just note that on September 17, 2012, Santo Mining Corp. entered into a subscription agreement with a private investor under a private placement offering for 600,000 shares of SANP at $0.50 per share for gross proceeds to the Company of $300,000.
Since the beginning of 2012, the Company has raised an aggregate of $501,000 through private placement offerings. $150,000 of it was on March 2, 2012 when Santo Mining sold 337,500 post-split shares at $0.44 per share (price adjusted from .11 to reflect the 4-for-1 reverse split).
About SANP Stock
Santo Mining Corporation is a mineral resource exploration company. From their inception, the Company was engaged in the operation of a website portal, www.drdentalspa.com, where both dentists and patients could access dental information, as well as operating a teeth whitening business.
Recently, Santo Mining management decided to redirect their business focus towards identifying and pursuing options regarding the acquisition of mineral exploration property with the focus on gold and other precious metals.
Bottom Line: SANP is sure to be a hot penny stock to watch and must be added to the list of penny stocks to watch. We can dig deeper and find that most of the shares traders are buying are owned at prices well under a nickel, but for what? You are either gonna buy SANP stock and make money, buy SANP stock and lose money, or watch SANP stock from the sidelines and spam the message board on iHub telling everyone how its gonna crash since you don’t own any shares. Right?
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