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Originally posted by mj1133:
Is it ok to get in now? Or am I too late?

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Posts: 70 | Registered: Apr 2006  |  IP: Logged | 

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bellwetherreport.com: The Bellwether Report initiates coverage over the very exciting Savoy Resources Corporation


By M2
Last Update: 5/4/2006 11:16:47 AM Data provided by

May 04, 2006 (M2 PRESSWIRE via COMTEX) -- Savoy Resources Corporation (OTCBB:SVRYE), is a company that our research team will be tracking over the ensuing weeks. They recently came out with a significant corporate development, causing a market stir. The BWR Research Team will continue to bring its subscribers cutting edge research tools, and second to none customer service.

Savoy Resources Corporation a precious metals and mineral exploration and mining company, announced this week that it has agreed to sell its 40% interest in Heilongjiang Savoy Minerals Co., Ltd., the joint venture with the First Institute of Geological Exploration of Heilongjiang Province, China, organized in June 2004, to Black Dragon Resources Ltd., an unrelated Mauritius GBC2 company.

Up to this point, Savoy Resources has contributed to the joint venture US$1 million of a total of US$3.5 million in capital contributions required through December 31, 2006, under the joint venture agreement with the First Institute. Savoy Resources has received the initial US$50,000 payment under the agreement with Black Dragon Resources and will receive an additional US$200,000 at closing. Savoy Resources anticipates that the sale will close sometime in the next two weeks.

Savoy Resources is using the funds received to date from the sale of its interest in the joint venture to complete and file with the U.S. Securities and Exchange Commission its annual report on Form 10-KSB for the fiscal year ended December 31, 2005, and its quarterly report on Form 10-QSB for the quarter ended March 31, 2006. When the annual report is filed, assuming that the quarterly report is filed by the prescribed due date or within five days thereafter, the "e" will be removed from Savoy Resources' trading symbol. Mr. Arthur Johnson, President/CEO of Savoy Resources, stated that "Savoy Resources has finally received the funding needed to complete the reports required to be filed with the SEC in order to satisfy its reporting obligations. Management is working closely with its professionals and advisors to complete these reports and file them with the SEC as expeditiously as possible."

Management made the strategic decision to sell Savoy Resources' interest in the China joint venture primarily because of the significant amount of additional investment capital required prior to the realization of any return from the joint venture. Mr. Johnson stated, "We ultimately determined that, as a result of a visit to the site, it would not be possible to sink a decline shaft to extract the gold at the Sishan Forest Farm site, our initial target prospect in Heilongjiang Province. The terrain would require a conventional vertical shaft, which would be costly and delay operations for a further year." Further, based upon more intensive investigation of various of the joint venture's target sites in Heilongjiang Province, it became apparent to management that Savoy Resources could only realize revenue from Sipingshun Mountains and other sites by negotiating a small carried interest with a joint venture partner having the resources far greater than those of Savoy Resources with which to develop the properties and commence production. In this regard, Mr. Johnson said that "While our joint venture with the First Institute was prestigious and believed to be the first of its kind, management came to the realization that we could not translate these positive attributes into revenues and income for Savoy Resources in a timeframe that made sense for our stockholders."

With regard to this proposed acquisition, Mr. Johnson stated, "We are excited by the prospect of owning a gold property with proven placer reserves on which it would be possible to commence production of gold as early as this fall because of the existence of a certain amount of infrastructure. With the acquisition of the Yukon gold property, Savoy Resources could finally accomplish its transition to a gold mining company. We expect this proposed acquisition to jumpstart our program for acquisitions of mining properties in Canada, the United States, South Africa and China and to enable us to obtain the financing necessary to commence production of gold or other minerals on these properties. In this regard, we are presently in discussions with a prospective funding partner."

Following this announcement Savoy Resources Corporation traded up over 130% to as high as $0.129 from a previous close of $0.043. This company has worked hard over the last few months as they attempted to shift their business plan, with an attempt to increase shareholder value in the future. Savoy is very exciting and as it currently trades just below $0.10 could be a great trading opportunity as it is still a ways off when compared to its 52-week high. The BWR Research Team will continue to follow the market sentiment on this company and numerous others.

To review research on small cap companies like Savoy Resources Corporation., as well as many more exciting articles we encourage you to visit www.bellwetherreport.com. You can find these reports under the "Today's Articles" section. No credit Card Needed!!

The Bellwether Report will continue to research all of the markets to bring you exciting opportunities!! If you are interested in receiving more information on these small or large cap opportunities as well as other features of our site, feel free to sign up for a complimentary subscription to the #1 online investment tool www.bellwetherreport.com.

Companies looking to advertise with Bellwether Report should email jlee*bellwetherreport.com with the subject line (Advertising).

All material herein was prepared by the Bellwetherreport.com, (Bellwether) based upon information believed to be reliable. The information contained herein is not guaranteed by Bellwether to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Bellwether is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. Bellwether may receive compensation in cash or shares from independent third parties or from the companies mentioned.

Bellwether's affiliates, officers, directors and employees may also have bought or may buy the shares discussed in this opinion and may profit in the event those shares rise in value.

Bellwether will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.

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Posts: 3387 | Registered: Mar 2006  |  IP: Logged | 

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Originally posted by mj1133:
I just placed an order at .077

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Posts: 957 | From: grand rapids, MI | Registered: Feb 2006  |  IP: Logged | 

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Originally posted by Hold-em-er-fold-em:

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Originally posted by mj1133:
I just placed an order at .077

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Why at .077?

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Posts: 7 | Registered: May 2006  |  IP: Logged | 

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Originally posted by Repoman75:
.078 guarantees you a fill.

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Posts: 7 | Registered: May 2006  |  IP: Logged | 

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Savoy is very exciting and as it currently trades just below $0.10 could be a great trading opportunity as it is still a ways off when compared to its 52-week high.

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Posts: 3387 | Registered: Mar 2006  |  IP: Logged |