Friday’s trading session for Portage Resources, Inc. (PINK:POTG) stock took place under the influence of the announcement of the next in row new property acquisition. It looks like the news stopped the fall down of the share price, yet the high market value currently looks supported only by optimistic press releases and freely distributed research reports. 
POTG hit a new high at $1.24 on Wednesday, though a correction followed and Friday session closed at $0.76 for a share. Over 10 million shares got traded during the session, much less than the preceding several session, but still a huge number for the stock. Technically, it looks like POTG share price can rise again, though the company’s financial reports show that it is yet to prove viable reserves on its properties that could generate value for the shareholders.
Moreover, it looks like it was not only news that inspired the extra trading activity in the past days. Free research reports have also been distributed by a website owned by a stock promoting company, which looks like another possible factor for POTG stock to close some trading days valued at over $500 million.
On Thursday afternoon POTG announced that it has signed a letter of intent to acquire the Linderos #5 property located in the north part of Pachapiriana, the project being located close to the border with Ecuador. Previously, the company had announced the acquisition of the Linderos #4 property, according to the press release completed on June 27, 2011.
The previous PR states also that the area where the Linderos project is located might contain several million ounces of gold, but as already mentioned, no reports have been filed to the SEC that could confirm such information.
