This week, Source Gold Corp (OTC:SRGL) cut off the up move at once. The price fall started on Monday and continued 
yesterday when the stock lost another 8.75% of its price. Unlike the price, traded volume of SRGL increased by 301 thousand shares for the day.
Apparently, SRGL is not satisfied with the current situation, thus the company is tying hard to change it by news and promotions.
The news came up yesterday when Source Gold announced the acquisition of a major new gold prospect called the Great White North Gold Project. In addition, the company reported that it was going to plan a phase one spring exploration program shortly, though the details are still to come.
In order to pump up its stock price even harder, SRGL started a promotional campaign yesterday worth $90,000 so far. Today, the promotions continue and the result should be seen in a while.
Source Gold Corp. operates as a junior mining company with focus on high grade deposits with a balance of green field and head frame targets in areas of proven exploration potential for major discoveries. Last month, the company filed its 10-Q report for the period ended January 31, 2012. However, it does not look much promising.
According to the 10-Q, current assets of SRGL were much lower than its liabilities, while the net loss remained uncovered. During the same time, both the stockholders’ deficit and the accumulated deficit substantially increased.[BANNER]
As a result of the incurred losses, the company’s consolidated financial statements have been prepared under a going concern. It assumes that SRGL will be able to meet its obligations and continue its operations for the next fiscal year.
Nevertheless, Source Gold has no source of recurring revenues yet and expects to incur further losses in the development of its business, all of which casts substantial doubt about the company’s ability to continue as a going concern.
