1. They have not reduced the # of outstanding shares, they have reduced the number of authorized shares. These shares have not been issued yet so they don't have any effect on PE or trading. They currently have 400 mill issued and outstanding which means that they can can still issue another 150 million. Also, the float is only 200 million which means that another 350 million shares can enter the float. This is an obvious pump and dump and should be treated as such. If they are doing a $1-$2 million promotion obviously someone will be dumping 100's of millions of shares. Volume will be great. Price appreciation may or may not happen.
2. The company has pinpointed a mineral rich property? I can pinpoint hundreds of mineral rich properties. What does that mean? Check out CPMC*. It had all kinds of phenomenal news. The stock went from .05 to .65 or maybe a bit higher. It now trades at .026 with tons more in float. Same deal, mining company new properties blah blah blah. The stock ripped up in a week and came crashing down even faster. Most of the news that is going to be put out is vague and speculative (and non verifiable) in nature. If this program works the stock could rip but I find that these stocks are not going up as much anymore. This stock went from as low as .02 and as high as .10 yesterday. The stock consolidated at .06-.07. But it looks like it will have a problem at .10. If it breaks through then it could have a big run as it went straight down from .50 to .05. But also realize that there will be 100's of millions more hitting the street off of this promo (IMO).
I believe it will move up some but don't be greedy. Take profits. There is no such thing as a bad profit.
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