concentrating on the efforts to stabilize its market position. After a 16% gain on Monday, followed by a negative price change, yesterday BHWX managed to move up again. Though, the stock has been in a downtrend since last October and the current up move looks quite unstable.On Monday, Black Hawk announced the Dun Glen Project results, along with its great revenue estimations for the Monroe North Project. According to the announcement, the second project is to bring the company a gross revenue of $580 thousand. However, the excavation and processing costs should be covered first. As soon as the optimistic news was released, BHWX grabbed the climb, though the stock fell down on the next day.[BANNER]
Apart from the positive release, this week Black Hawk was promoted by websites like Stockguru.com and ShamrockStocks.com, which also reflected on the stock price movement and provoked the traders.
Not surprisingly, that’s not the first time when BHWX was supported in that way. The company has been living on stock sales and has no revenues, while its losses have been progressing up. However, the most interesting fact about the company is that, according to Google maps, its contact address turns out to be either a P.O. box or somewhere deep in the woods.
Above all, judging upon its current business plan, Black Hawk needs immediate cash to commence its operations and without additional financing BHWX business will definitely fail. Though, based on the company’s performance so far, the fail won’t surprise anyone.
