The Street Sweeper Releases Negative Report on Portage Resources

On Thursday, The Street Sweeper released a report on mining company Portage Resources (OTC: POTG) .

In the report, The Street Sweeper raised concerns on the company, citing a variety of questionable facts.

The Street Sweeper writes, "Capital Financial Media - the backer of massive promotion campaigns for such ill-fated penny stocks as Clicker (OTC: CLKZ) and Horiyoshi Worldwide (OTC: HHWW) began to work its notorious market-moving powers...[it] hired newcomer "Penny Stock Pillager" to quickly issue a bullish report predicting that POTG could rapidly surge to $3.32 a share."

The Street Sweeper also questioned recent acquisitions by the company: writing, "The company signed a definitive purchase agreement to acquire the Linderos #4 property...but a Latin America-based securities analyst...has raised serious questions about whether POTG can even launch that particular project. He told The Street Sweeper that local tribes...often balk at mining projects in their region."

Additionally, The Street Sweeper cites a potential conflict of interest. Portgage resources recently acquired new property from the company Nilam Resources (OTC: NILA).

On this purchase, The Street Sweeper writes, "POTG and NILA share another common trait as well: Both have forged relationships with Luna, the first counting him as its top executive...the second listing him as an expert advisor to the company."

Shares of Portage Resources are currently trading at $0.81, over 13% lower on the session.

Read the full report here.