The shares of Andes Gold Corp. (PINK:AGCZ) surged for the fourth time in a row after the company announced last Friday its intention to enhance shareholder communications. Third parties quickly jumped the gun pulling a brand-new promotional trigger in support of AGCZ.
Last Friday, AGCZ edged up $0.004, or 8.9%, to $0.049, its fourth rise out of the last four trading days. Thus, AGCZ doubled the six-month high it had achieved earlier this month. A total of 799,500 shares changed hands, its sixth highest turnover for the last six months and 53% higher than the average volume.
AGCZ’s surge occurred after the company proudly announced it intended to start providing traders with greater insight into its expanding operations by launching both a new, more user-friendly website and an optional newsletter to document ACGZ’s progress. The company also pledged to keep a transparent financial profile ‘in accordance with the regulatory requirements.’
Today, AGCZ has been pumped by two promotional emails worth a total of $23 thousand. Whether the campaign will be successful or not remains to be seen. One thing is for sure, though. If AGCZ goes up till the end of the week, it will most probably become overbought and you all know what it means.
AGCZ closed Q3 of 2011 with $375K in current assets and $4.5M in current liabilities. The former increased by 15% on a quarterly basis, while the latter shot up 47% for the same period. So, the company is experiencing some liquidity issues at the moment. Nevertheless, AGCZ hit net sales of $1.88M, which is 32% higher than the net sales generated in Q1 and Q2 combined. In addition, the company registered net income of $149K, which amounts to 70% of the total net income generated within the first 6 months of 2011.
