Yesterday, Encore Renaissance Reso. Corp. (NDA) (CVE:EZ), (PINK:ERRCF) stock rose by 15.38%, following the warm and secure press release provided by the company.
The good news that the company’s project was winterized in all aspects in order to ensure the operations throughout the coming winter months rushed suddenly EZ stock, just like a warm up for the winter race.
Maybe some investors had a lot of respect for the released ongoing negotiations of EZ for the Tanzania gold project, located next to the Canaco Resources recent discovery.
Maybe also the reported 10 meters advance as a part of the underground operations on the company’s Bonaparte Gold Project inspired some investors.
For the others, the released by the company update was just a good occasion to test how shorting works on a new and unexplored “ground”.
Yesterday, EZ stock closed the session at $0.075 per share in a three times the average volume traded.
Encore Renaissance Resources Corp. is a junior development-stage company since 1984. Last spring, the company changed its name from Consolidated Gold Win Ventures Inc. to Encore Renaissance Resources Corp.[BANNER]
The company is engaged in the acquisition of natural resource properties of potential economic significance, on which it intends to conduct exploration and development. The main focus of Encore Renaissance Resources Corp. are mining properties that are currently in the exploration stage.
Last June, the company acquired an option to purchase a 60% interest in the Bonaparte Mine, a property located approximately 35 km north of Kamloops, British Columbia. In February 2009, the company entered into an amended agreement, approved by TSX on February 18, 2010. The company acquired an additional 15% interest of Bonaparte Mine.
