Kaloyan Gadzhev

Santo Mining Corp. (OTC:SANP) Diving Deeper

by Kaloyan Gadzhev November 19, 2012
5SANP_CHART.pngSanto Mining Corp. (OTC:SANP, SANP message board) delivered another horrifying session for shareholders on Friday. It closed down another 22.76% down and is now down more than 55% from the peak when the pumpers stopped touting it.

Despite the four consecutive drops, at $0.56 per share, SANP may still be over-valued. As we pointed out earlier as per their latest financial report the company had:
  • $50,793 total current assets
  • $135,071 total assets
  • $125,868 total liabilities
  • $0 revenues
Numbers which can hardly support a $36 million market capitalization.

One of the worst things about SANP is that so far it's been doing business with its own CEO and President, Alain French. The company has paid another company owned by Mr. French millions in SANP shares for claims with no proven reserves.

For investors who don't skip the due diligence a red flag would have been raised before they even got to the filings of SANP. The company began trading actively only after paid pump campaigns started, and at one point it became apparent that there is a huge budget for inflating the price. The total budget of $3.85 million is more than 28 times what the company has in assets.

7AGCZ.pngOne of the pumpers paid to artificially inflate the price of SANP was used in the pump of another gold pipe dream - Andes Gold Corp. (PINK:AGCZ). Up-to-date AGCZ is down 90%.

While Mr. French is still looking at millions of dollars on paper, assuming he hasn't sold his shares, believers in SANP are suffering severe losses, and the announced 2 for 1 forward split won't help the situation for them.

Comments 4

1. Guest
November 19, 2012, 06:08PM

Quotes Posting articles like this is nothing but a ploy to bring down share price so that investors like yourself can buy back in and make a huge profit. And it's not even going to work. SANP went up today and with another good announcement it is poised for a solid weekly gain. Buying time is NOW.

2. Guest
November 19, 2012, 02:34PM

Quotes Diving deeper even tho it's up today? Terrible article...You guys really need to give the bashing a rest...

3. Guest
November 19, 2012, 01:57PM

Quotes YEAAYYY GO SANP. BEST PICK OF THE YEAR!!

4. Guest
November 19, 2012, 12:46PM

Quotes NOW, TAKE ALL OF THE RECENT NEWS INCLUDING THE GREAT NEWS THAT JUST CAME OUT TODAY, COMBINED WITH THE UPCOMING STOCK SPLIT AND CORE SAMPLES THAT ARE COMING BACK BETTER THAN EXPECTED (I ALREADY KNOW THE RESULTS EVEN THOUGH THE ANNOUNCEMENT IS STILL TO COME AT THE END OF THE WEEK), AND THE BOTTOM LINE IS THAT EVERYTHING SCREAMS INSIDERS GETTING READY TO BUY BACK BLOCKS OF STOCK!!

SANP IS A HUGE BUY

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