Kaloyan Gadzhev

Could a Second Promotion Work Out Better for Siga Resources Inc (OTC:SGAE)?

by Kaloyan Gadzhev September 12, 2011
1SGAE_chart.gifSiga Resources Inc (OTC:SGAE, SGAE message board) was promoted back in early June to no avail. Nevertheless, about a month after the promotion SGAE started trading more actively. There is a new promotion which should have its effect today.

It is possible the new promotion could work better than the previous one because this time the compensation is not in shares, it's in cash.

Since SGAE got the attention of traders in July, the price went from below $0.75 to nearly $2.50. Lately the volume has gone down, however. Last Thursday and Friday about 5 thousand shares were traded in each session.

The $35 thousand promotion may help to bring interest towards SGAE again. A development in the company's activities may be better, but for now the latest news in that regard is from Aug. 24. Back then, SGAE issued a press release with an update on the bulk sampling progress at its Lucky Thirteen project.

6SGAE_logo.jpgIn the last three session SGAE closed at $2.35. At this price the market cap of the company is approximately $103 million. It isn't clear whether a promotion can push it further up without developments concerning the operations of the company.

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