Southridge Enterprises, Inc. (PINK: SRGE) continues to make explosive gains after the Company announced a shareholder update and releases positive events at its "El Horconcito" Gold property, in the state of Durango, Mexico.
The pr goes on to say that Due to numerous shareholder inquiries following the recent announcement, "Southridge Evaluates Strategic Alternatives for Cinco Minas Property and Reports Advanced Discussions with Major NYSE Listed Metal Producers concerning Cinco Minas", the Company would like to update its shareholders.
The Company and its advisers are currently evaluating alternatives and are in advanced discussions with two major NYSE listed metal producers regarding their Jalisco mineral concessions and properties. One of the firms has already signed preliminary documents for the full acquisition of the Cinco Minas property. Southridge would like to give its shareholders an indication of how the funds will be used in the event a full sale is affected for its Cinco Minas Property.
The company would like to state that shareholders will definitely participate in a direct, immediate, tangible benefit of such sale (i.e. special cash dividend for 20% of the proceeds from the sale of the Cinco Minas Property or a flat 20 cents per share special one-time dividend). Southridge and its Board of Directors can only state at this time that the amount being discussed is in the range of $550,000,000 and $600,000,000 for its Cinco Minas Property. Due to certain reasons the company cannot fully disclose exact details at this time. However the company felt it was very important to release some details to explain what's in it for shareholders and what the company and its Board of Directors are discussing as this time.
SRGE has been making some huge announcements in recent days including a cash dividend of $0.00003 per common share, payable on November 22, 2012 to shareholders of record at the close of business November 15, 2012.
The meteoric rise of SRGE comes as SRGE announces that in fiscal 2012, they have processed over 9,000 tons of ore and recorded revenues of $3.14 Million in just its 4th Quarter Fiscal Year 2012 ending Aug 2012. For a sub penny stock this is truly spectacular - a little further digging and one begins to see the fantastic potential here!
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.