Nelly Shishkova

Minerco Resources Inc (OTC:MINE) Is Eager to Climb Higher

by Nelly Shishkova April 25, 2012
Minerco Resources Inc (OTC:MINE) broke up the loss. Yesterday, the stock soared 3.53% and its traded volume jumped up. MINE_chart2.pngNow MINE is eager to continue the climb by news and promotions.

Yesterday, the company released operational update for its Chiligatoro Hydro-Electric Project in Honduras. The announcement also stated that presently the Chiligatoro Project was applying for the Project's Power Purchase Agreement from Empresa Nacional de Energia Electrical and soliciting bids for Final Design and Construction. The PPA is the final step before Congressional approval and start of construction.

Yet, while waiting for the approval, MINE made another move to hold the climb - it got promoted. The campaign was held yesterday and cost $2,500. Apparently, it was meant to pump up MINE stock price additionally, and the result should be seen shortly.

Minerco Resources, Inc. is an exploration-stage company engaged in the acquisition of interests and leases in oil and natural gas properties. Last year, the company's stock price reached $1.00 per share, however, since then it has decreased significantly. Unfortunately, the same happened with the financials of MINE.

As of January 31, 2012 the company had huge accumulated deficit and no revenue. During the same period of time, the net loss and the stockholders' deficit substantially increased, which easily explains the going concern status of the company.

Minerco_logo.pngManagement anticipate that they will incur substantial losses for the foreseeable future. Although they have acquired a 100% interest in the various Hydro-Electric and Wind Projects, there is no assurance that MINE will receive any revenues from this interest.

Meanwhile, even if the company purchases other non-operated interests in hydro-electric projects or begin construction activities on any properties it may acquire, this does not guarantee that these will be commercially exploitable.

Based on its planned expenditures, MINE requires additional funds of approximately $13,800,885 to proceed with its business plan over the next 24 months. If the company secures less than the full amount of financing that it requires, MINE will not be able to carry out its complete business plan and will be forced to proceed with a scaled back plan based on its available financial resources.

Comments 2

1. Guest
May 13, 2012, 10:21AM

Quotes $MINE looks good for monday... saw increasing support during friday's session, and their new ventures seem promising.

2. Guest
April 25, 2012, 11:22AM

Quotes Come on Nelly. That was a terrible article. The stock isn't moving. They need to pay more than $2500 to get noticed on the market. This was not "new" news to the shareholders on ihub. We already had this figured out long ago before the reverse split that just occurred earlier this year.

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