volume rose over 570 thousand shares. As compared to the average value of only 66 thousand shares and the negative price changes from the previous days, that’s quite remarkable progress for BULM.Most probably, two factors have reflected on the high trade from yesterday. The first one appeared to be the recent news that the company has received an unsolicited offer from Eurasian Minerals Inc. to acquire all of its outstanding securities in exchange for shares of Eurasian Minerals to BULM’s current market price. In that case, Bullion shareholders would receive 0.44 shares of Eurasian Minerals for each share of BULM stock.
As a second factor for the rise of BULM, may be considered its recent promotion by ShamrockStocks.com, which placed the stock among the “Lucky Picks of The Day” and apparently provoked traders’ interest.[BANNER]
Bullion Monarch is a gold-focused royalty company with additional interests in oil-shale technology and other assets. In Oct. 2009, the stock price almost reached $1 per share, though presently its trading range varies between $0.68 – $0.85.
The company’s quarterly results seem to be improved and its stockholders’ equity has been increasing. Management team believes their current capital resources would be sufficient to cover BULM’s needs for the foreseeable future, but they claim that “Our long-term capital requirements are primarily affected by our ongoing acquisition activities”.
