El Nino Ventures Inc. (On Friday, ELN stock was in the group of the most actively traded securities on the TSX Venture Exchange. ELN shares got demanded like hot bread on no official news from the company.
The share price rose by 40% between the sessions. The trading volume was unprecedented for the company and it exceeded 5.3 million shares.
Within a day, the shares of El Nino Ventures Inc. entered the overbought area and showed symptoms of a starting upward trend.
This happens one month after the announced by the company closing of a non-brokered private placement for gross proceeds of almost $807 K and days before the long expected by investors Hearing at the Supreme Court of British Columbia.
According to the latest financials of the company, all of the exploration programs in the Democratic Republic of Congo were set on hold.[BANNER]
This summer, El Nino Ventures Inc. petitioned the Supreme Court of British Columbia in response to alleged defaults of a Joint Venture Agreement. The company made an indictment of fraud, fraudulent misrepresentation, misappropriation of funds, breach of agreement and claims for USD $850,000 against Georges Kavvadias and GCP Group. The Court Hearing in this connection is scheduled for next Wednesday.
