Constitution Mining Corp. (OTC:CMIN) has been climbing up progressively over the past days. The up move started last CMIN_chart4.pngTuesday and it continued until Friday, when CMIN stock moved higher trading over 3 million shares on the market. Will the high trade stay on this week is just about to be seen.

Meanwhile, there is only one reasonable explanation on the gain – the positive news on Constitution Mining Corp. On Jan 21, the company reported they have entered into an agreement with Swiss Mining S.A. to start a test-mining production operation on the CMIN’s Gold Sand’s project in Peru. According to the announcement, “the allocation of net returns is based upon a gold price in the range of US $1300 to $1500 per ounce”, however, if the price of gold changes the companies may negotiate an adjustment to the 70/30 split. Apart from this news, Constitution Mining announced that on Jan 20 they have issued a total of 75,789,500 shares of common stock and warrants to purchase 75,789,500 shares of the company’s common stock. Last week, CMIN reported some changes in the company’s beneficial ownership, which also influenced the stock price.

These announcements attracted investors’ attention and made the stock climb up, hoping for future gains.[BANNER]

Constitution_Mining_Corp..pngConstitution Mining Corp. is an exploration-stage company focused on developing gold projects in Nevada and Peru. Historical records show that CMIN’s chart position is hard to be determined. According to the charts, the stock price has been constantly jumping up and down, supported by promotional newsletters and a series of positive news. The question is, how far it will go this time?

The latest 10-Q report of Constitution Mining shows that the company has not yet covered its huge losses, while the deficit accumulated during the exploration stage has risen up by over $25 million. The company’s management claimed that the capital resources of CMIN should be adequate to continue operations, however, if the company is unable to raise additional capital in the near future, it “will need to curtail operations, liquidate assets, seek additional capital on less favorable terms and/or pursue other remedial measures”.