Being in sight of investors since months, Allana Potash Corp. (CVE:AAA), (PINK:ALLRF) stock continues to erupt like a volcano these days.
Within a week, the latest strategic for the company’s development news increased the buying pressure up to the moment in which yesterday a black candle stick was drawn on the price chart of AAA.
Yesterday, following the high pressure of the bullish investor mood from last week, AAA stock entered the market 7% higher than it closed the week on Friday.
Though the striking of a new 52-week high beyond $0.80 per share and the 1.35% price soar since Friday, the shares of Allana Potash Corp. closed the trading day with a slight pull back within the session.
Looks like investors reconsidered the last strong share price eruption and were not eager to continue the further upright move of AAA stock.
Last Tuesday, Allana Potash Corp. released the closing of a strategic for the company non-brokered private placement for gross proceeds of almost $12.4 million. Under the offering, Liberty Metals & Mining Holdings, LLC (LMM) has purchased all of the common shares of Allana Potash Corp., becoming thus a holder of approximately 17% of the issued and outstanding shares of AAA.[BANNER]
On the same day, on the TSX Venture Exchange the share price returned back by 1.75% on a weak volume, only to fly up in the following days.
Yesterday, having already a strengthened financial positions and a strong strategic partnership, AAA announced two intersected significant zones of potash mineralization on its Ethiopian Potash Project.
Though the positive news, after the 32.14% share price increase in less than a week investors were not able to appreciate the next in row eruption of the AAA volcano-stock, at least for a short time.
