traded volume significantly. Yesterday, the gain continued as MINE soared the next 28.57%, and traded over 25 million shares on the market.Considering these values, the question is what’s behind the current high trade?
Obviously, the right answer is only one – the recent promotions of MINE. Following the records, it turned out that yesterday the stock was promoted 3 times by 3 different companies. The compensations for the promoters haven’t been listed.[BANNER]
Being promoted, MINE started to gain heavily, though Minerco decided to re-ensure its market position by releasing some positive updates on its business. According to the announcement, on Oct 20 the Chiligatoro Hydro-Electric Project received further environmental approval from the municipality of Intibuca.
Although the project still needs to obtain Congressional approval, the optimistic news along with the promotions have supported MINE stock and the high trade was straight on.
Minerco Resources, Inc. is a developer, producer and provider of clean, renewable energy solutions in Latin America. Chart statistics shows that MINE entered a downtrend in end-May and the present trading range of the company is between $0.01 – $0.02 per share.
The financial report points out that the company has no revenues and it doesn’t expect to generate any “in the foreseeable future”. Besides, Minerco has incurred operational losses and has received a going concern opinion by its auditors.
In that case, if MINE doesn’t find additional capital to complete its business plan, it’s not certain if the company will continue operating.
