Western Sierra Mining (WSRA) Reports Net Income

WSRA StockGold prices are barely above $1300 while Silver is trying to stay above $20. These low prices were still not low enough to prevent Western Sierra Mining Corp. (WSRA) from reporting positive net income off of their joint venture and contract testing revenues for the year ended December 31, 2013. Having just reported their annual report which included a 397% increase in revenues compared to the year prior, WSRA stock just landed itself on the watch list for anyone who likes to speculate on sub penny stocks.

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WSRA, WSRA Stock, WSRA Stock Quote, WSRA Stock Chart, Western Sierra Mining Corp., cheap gold stocksWSRA Stock Quote

Market Cap: 1.20M
Last: 0.0038 ▲ +0.0002 (+5.56%)
Volume: 60,000
Dollar Volume: $226
Open: 0.0036
High: 0.0038
Low: 0.0036
Trades: 4
Authorized: 350,000,000
Issued and Outstanding: 315,493,353
Float: 97,298,912
14-Day Rel Strength: 55.02%

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The investment world hasn’t heard a peep from Western Sierra Mining Corp. since July, 2013 when the mining company provided an update regarding their reconstruction of the Gold Basin Mine in the Prescott Mountains of Arizona. The project, part of a long term development agreement to open up the entire 350 acres of the placer property, was said to have $2.6 million in operating equipment on site and in excess of $300,000 in infrastructure improvements.

Well, the reconstruction paid off since Western Sierra Mining reported their year end results earlier today with revenues having reached $446,300 for the 12 months ended December 31, 2013 versus $89,785 for the same 12 month period the year prior. Even more appropriate was that from the $111,715 gross profit generated from those revenues, total operating expenses only came in at $29,016 which, after $346 in interest expense, allowed for the company to book net income of $82,355 for the year.

There was no increase to the total number of shares issued and outstanding during the course of 2013 which will be a positive sign when considering WSRA stock as a play. In fact, the last time shares were issued was well back in 2010.

Looking forward, the Gold Star mine which Western Sierra Mining last issued a PR on in July, 2013 is stated to have 168,750 oz. of gold resources valued at $203,000,000 while their other property, Gold River Mines, is stated to have 88,000 oz. of gold resources and 755,000 oz. of silver resources. At $1,200/oz. gold and $20/oz. silver, the gold resources total $106,000,000 while the silver resources total $15,000,000.

The annual report filing created little attention to WSRA stock as it sits in the sub penny shadows of all the marijuana stocks in play at present. This could be a very good thing for those willing to gamble that WSRA takes off soon since the last public word from Western Sierra Mining when talking about the Gold Star mine was that:

This initial program is planned as the small scale systems test in preparation for the larger development program including the expansion of the current facility to 250 yards per hour with some modifications to its existing permits. Expansion construction is being scheduled for mid 2014.

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About WSRA Stock

Western Sierra Mining Corp. is an exploration stage mining company focused on acquiring, developing and mining mineral properties and reserves in the western United States, primarily in Central Arizona.

Click here to view the financial filings for WSRA.
Click here to view the website for Western Sierra Mining Corp.

Last 5 Trading Sessions:

Date Open High Low Last Change % Change Volume
03/25/14 0.0036 0.0038 0.0036 0.0038 +0.0002 +5.56% 60,000
03/24/14 0.0036 0.0036 0.0036 0.0036 +0.0006 +20.00% 4,900
03/21/14 0.0036 0.0036 0.0030 0.0030 -0.0006 -16.67% 25,200
03/20/14 0.0034 0.0036 0.0034 0.0036 +0.0002 +5.88% 202,800
03/19/14 0.0034 0.0034 0.0034 0.0034 unch unch 4,900


Bottom Line:

There is a lot to like about WSRA and a number of good reasons why this sub penny stock could come into play here very soon. The net income numbers alone are reason for WSRA stock to be on the radar, but with the silence from the company and the expansion plans due to occur on a proven mine, a move to .01 would be worth nearly 200% as it is right now.

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