Southcorp Capital, Inc. (OTCMKTS: STHC) is making a powerful move up the charts in recent days since a brief dip below the $0.02 mark. The stock recently saw highs of $0.0599 which is the price to beat and confirmation of the next leg up.
STHC is getting noticed by penny stock speculators as the Company completes a reverse takeover (RTO) with AMECA Mining whereby AMECA will be the surviving entity led by Mark Bolster. Reverse merger plays have proven themselves as more explosive than biotech’s in small caps. A break over $0.0599 is confirmation of the next leg up.
Southcorp Capital, Inc. (OTCMKTS: STHC) is a clean shell registered in Delaware with just 369,462,271 shares issued and outstanding and a perfect merger candidate for AMECA mining. The Company used to be focused on the acquisition of residential, commercial and industrial properties in Bernie and Fort Wayne, Indiana.
The Company is completing a reverse merger with AMECA mining whereby AMECA will be the surviving entity and the new managment will be led by Mark Bolster. AMECA mining is a junior mining exploration company headquartered in Canada that holds multiple claims around the world. The Company currently controls an 8 square kilometer claim and has an open pit mining license in Sri Lanka. According to AMECA recent testing on its property found a very large (2 million tonne) graphite deposit of extremely high natural purity (>99%). Initial testing at both Saint Jean Carbon and Actlabs has also revealed high concentrations of other valuable minerals. AMECA has a Gold mining contract from the Sri Lankan Government.
Testing at Saint Jean Carbon further confirmed that the Seruwila graphite is of extremely high purity. Initial testing at both Saint Jean Carbon and Actlabs also revealed high concentrations of multiple rare earths and palladium. Having attained bank feasibility on the graphite, is currently in the process of proving out the rare earths, palladium, and gold.
Gold: Targeting goal of establishing multi-million oz gold resource. Visible gold in core samples. Early testing at shallow levels show the presence of gold (7 grams/tonne). Currently undertaking Phase 2 drilling to a depth of 200 metres. Fire assay will be available in 4-5 weeks. holds intellectual rights for all gold in Sri Lanka.
Platinum groups: High concentrations of palladium (5.67) found by Saint Jean Carbon in initial samples. Awaiting confirmation from Actlabs.
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Rare earths: Very promising results from both a geological standpoint and potentially processing perspective. Testing at the certified labs of Saint Jean Carbon and Actlabs show high concentrations of multiple rare earths including: Europium (.9%), gadolinium (1.2%).
Graphite: Proven 2 million tonnes of extremely high (99.9%) purity. Graphite will not need to be subjected to many damaging processes required to obtain the purity required by end user. Ideal for the anodes of EV batteries. No intercalation with host rock means less processing and associated costs than North American deposits. 10 year, $20 million/year off-take agreement signed.
On August 12 Southcorp announced the completion of a change of control with Mark Bolster in which Mr. Bolster acquired control through a super voting preferred class of shares from Synergy Management and confirmation of STHC’s business model shift to the mining industry. As part of the transaction Mark Bolster was also made the sole officer of the company and Benjamin Berry resigned his positions. Southcorp Capital, Inc. has started compiling the initial information to OTC Markets needed to become current. In connection therewith, the company also plans to seek a name and symbol change by application to FINRA in order to better reflect the newly combined company’s new business model. Management expects that such milestones will be completed in the coming months.
CEO Mark Bolster stated: “The focus and strategy going forward in the coming months will be to bring the status of the company current with OTC Markets, and to complete a reverse takeover (RTO) with AMECA Mining. We have many exciting announcements to make once we complete the transaction with AMECA.”
The wait for my beloved $STHC may be over!
— Andrew (@aloudoun) November 25, 2020
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Currently making a powerful run up the charts STHC is an exciting story developing in small caps; the Company is completing a reverse takeover (RTO) with AMECA Mining whereby AMECA will be the surviving entity led by Mark Bolster. AMECA mining currently controls an 8 square kilometer claim and has an open pit mining license in Sria Lanka. According to a AMECA Mining its Seruwila mine holds significant resources in Gold, Platinum, REEs and Graphite. Reverse merger plays have proven themselves as more explosive than biotech’s in small caps. A break over $0.0599 is confirmation of the next leg up. We will be updating on STHC as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with STHC.
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Disclosure: we hold no position in STHC either long or short and we have not been compensated for this article.