Las Vegas, NV -- (SBWIRE) -- 12/10/2012 -- USA Graphite Inc. (OTC:USGT) has been making a big move up in recent weeks from a start point of well under $0.40 the stock has seen recent highs near $0.75. USGT is the latest in a long line of Penny Stock Graphite promotions; Penny Stocks quick to associate themselves with the previous metal with little fundamentals boasting million dollar promotions of the stock.
USA Graphite recently signed an LOI to acquire a property in Nevada called the Gordon Creek Graphite Property. The terms of the transaction include $1.2 million in cash and stock and a $500k work program commitment.
The Gordon Creek Graphite Property is located about 22 miles from Wells, Nevada and is accessible from Highway 93.
USGT follows a number of Graphite exploration Penny Stocks in recent months that moved up in the short term on heavy promotion but ultimately dropped lower including GRPH and NGRC.
USA Graphite bills itself as a Graphite exploration Company focused on world-class properties and becoming a US domestic supplier. According to the Company their holdings in Nevada offers considerable potential for the discovery and development of large flake, high-grade graphite.
OTCMAGIC has recently published a new article on USA Graphite that goes more into detail on what is really happening. To find out what OTCMAGIC projects for USGT both short term and long term please visit our article here: USGT
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