Today, in the beginning of the trading session Strategic Resources Inc. (CVE:UVR), (PINK:SCCFF) stock price returned back by 13.04%, maybe to correct its flying up from yesterday.
Yesterday, on the positive strategic news about the raising of funds with some strong financial input of insiders, UVR flew up not strategically, but explosively. The share price rose 64.29% between the sessions.
The volume traded exceeded 4.8 million shares, representing seventeen times the average for the company.
Looks like investors’ optimism has cooled down today, after the released yesterday revision of the above mentioned non-brokered private placement.
According to the initial information, Strategic Resources Inc. planned to raise up to $520 K in the private placement.
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According the revision however, the insider component of the offering has been increased to up to 4,700,000 units from the total offering that consisted of up to 8,000,000 units.
Strategic Resources Inc. was incorporated in September 2004. Last February, the shareholders of the UVR approved a change of company’s name to SRI. One month later, the company’s TSXV trading symbol was changed to “UVR” from “UCR”.
As reported in the last company’s financials, UVR is in the process of exploring its mineral properties and has not yet determined whether these properties contain reserves that are economically recoverable.
