Yesterday, Amarok Resources, Inc. (OTC:AMOK) returned among the penny stock gainers and it seems that the recent promotional efforts provide results again. Shareholders’ hopes that the “family-and-friends” business will finally throw out some profits seem revived.It seems like the mineral exploration stock is heading towards its previous higher levels, as the price climbed up throughout the whole day and finally settled at $1.40. Thus, the start upwards was made with a 17.64% increase in the price and a 310% increase in the number of shares traded, both being a signal for the market that promoters are making good progress again.
Yesterday, a third party, which seems to be registered as a public relations consultant, paid $85,000 to a stock promoting website to send alerts to investors. However, the web address of that promoter is unfortunately unavailable, and thus the terms of his services remain a secret. Previously, at the beginning of last week, another promoter (who did provide any web address at all), was compensated with 1.5 million shares of Amarok Resources’ stock.
Since last Monday the price started moving slowly up and new alerts came in, sent out by additional promoting firms, two of which state in their disclaimer they may be holding the promoted stocks and intend to sell immediately.
Last quarter financials of Amarok Resources were filed at the end of last month, but they diverged from the company’s recent press releases. Last week, detailed results from the drilling activities on the Rodeo Creek property were announced, with the start of the drilling program and its agenda being published already in the middle of May.
Strangely, in the 10-Q filed no drilling plans whatsoever were mentioned. The company has solely the option to purchase the interest in some mining claims in Nevada (which appears to be the Rodeo Creek project), subject to a number of conditions, among which several million dollars to be paid and a number of shares to be issued.
That option comes from an agreement of Amarok with Carlin Gold Resources, Inc., whose sole officer, director and shareholder is a business associate of Amarok, which as by a coincidence, also has only one employee: its director. According to the agreement, Carlin has transmitted to Amarok its interests from an exploration agreement with another entity, Trio Gold Corp., concerning that claims in Nevada. Finally, Trio is the actual holder of the above mentioned option and here, the coincidences continue: Trio’s President is the father of Amarok’s director.
Time will show if that strong relations will produce some economically considerable results, until then Amarok Resources remains in the exploration stage, seeking for “an operating business” […] to acquire”.
