SELR Stock | Blue Horseshoe Loves Steele Resources?

If you got fleeced Friday with your pockets sucked dry by or the VLNX scam, avoid the Kool Aid from Steele Resources Corp. (SELR). The #2Flusher miner which has had two trading session above 200,000 shares this year saw a spike of 3.26 million shares just before the close on Friday. With all the signs of a typical Psycho alert and a ticker that clues buyers into what is bound to happen, SELR stock is on alert for a one-and-done Monday.

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SELR Stock Structure

Last Price: 0.0125
Ytd Percent Change: -91.38%
Shares Authorized: 300,000,000
Outstanding: 58,215,258 as of May 14, 2012

Filing their NT 10-Q on Thursday, it appears that Steele Resources is banking on their recent dumpage of their rights, title and interests of the Billali Gold and Silver Mine, an advanced stage epithermal silver-gold quartz vein deposit, as the catalyst. It surely won’t be any Q2 numbers since there are none and weren’t any for Q1 even though those were filed on time.

The Company still has 3 projects which they hold claims to as of March 31, 2012, none of which drew in any revenues. They did though retain a 5% net smelter return on any and all future mining activity at the Billali Mine. And you can take that to the bank!

About SELR Stock

Steele Resources, Inc. is an exploration and mining company focused on identifying and developing advanced stage precious metal exploration projects which show potential to achieve full production. The overall business strategy is to identify, develop and operate mineral exploration properties and to provide mine development and operations services to mining properties located initially in the Western United States.

Bottom Line: I wouldn’t get caught holding this penny stock for longer than I could say the name of the company out-loud. If SELR is promoted by Psycho, that’s about as long as the gains will last anyways. Look out for SELR stock to be a heavy seller near lunch time on Monday.

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