with 52 million shares bought, float should be much lower, average volume still anemic on days. Seems to me nothing is stopping a PPS rise, if there are no shares in the float to sell into it, and short sellers aren't greedily borrowing stock...
No court action or regulator moves are pending against NMCX or NMC, INC, so there is nothing against the stock right now. Only thing regarding the president is discovery has been extended twice, once to 4/15 now to 6/30, continuing the state delays. In the mean time, NMCX is listed in the top 10 or top 20 of pink sheet quote requests during the trading day, indicating a large interest in the stock exists in the market. After the precious metal assays done by independent third parties indicate value in the ore, and the company video indicated free gold was removed and processed seperately, and royalties have been paid to Arizona on the precious metals, it seems even more risky to continue to be cellar boxing this stock. Sales of gold and precious metals probably have been waiting for the lease re-approval at the Arizona mine.
Low float, means sellers cannot get the stock to go lower in price in the face of a few buyers. They can't get their shares to sell unless they go to DTCC and borrow nonexisitent ones. Why would they do this anymore without SEC action as reasons, because it appears a risky business in light of the company releasing 2004 financials.
Since insiders aren't dumping stock, MM's are in short supply of stock, and the float has been bought up to some extent, and the company must get the audit complete to continue the precious metals ore contract for $500,000,000.00, and then to continue payments on the contract, it could make for very interesting times for the stock and NMC, Inc.
