This month the stock of Lithium Corporation (OTC:LTUM) has lowered once again its trading range, which is now below the 200-day moving average. On Friday LTUM could not change its position to the better, and fell down again. 
LTUM closed Friday session at exactly $0.25, a 10.75% decline in the share price from the previous close. Trading interest was much lower than usually with only 166,000 traded shares. Thus, the stock seems for now to remain in this narrow trading channel ranging between $0.28 and $0.24, and technically there could be no immediate signals for a change.
Interestingly, the latest press release concerning Lithium Corporation came out just at the time when the company’s share price came to the lower price level. On June 14, it has been announced that a stock research website named The Bedford Report is distributing a research report on LTUM. The report is available only against e-mail subscription to the website, whereas the general disclaimer of The Bredford Report states that it receives compensation from third parties for adverting services.
If that was a kind of a stock promotion for LTUM, it did not have much of success, neither did the company’s latest announcement from June 6, which said the company has commenced drilling on its Salt Wells Lithium property. Maybe because the latest 10-Q of the company that came out last month did not show the desired progress. As of end-March 2011, LTUM still had $1.9 million in total assets ($1.3 million in cash) and $43,000 in total liabilities, and it seems it has not achieved much on its exploration properties.
The management states already in the report that it has received a drill permit for the Salt Wells property and that it intends to drill on the property this summer. Further, LTUM states that it intends to drill on its Cortez Property, on which the geochemical and geophysical surveys were conducted back in 2009 and 2010.
