Energizer Resources Inc. (OTC:ENZR) has been moving up during the last couple of days. Yesterday, the stock gained 4.17% ENZR_chart.pngand managed to trade over 624 thousand shares on the market.

Apparently, something has impressed investors although there is no recent news about the company. Actually, the last announcement released by Energizer dates back to Nov 1 and it states that the company retained the Balloch Group to search for a strategic Chinese partner. According to Julie Lee Harrs, President and COO of ENZR, Balloch would introduce the company to new partners interested in securing vanadium off-take from the Green Giant project.

The most interesting fact here is that right after the news was published, Energizer’s management team and its director started to dispose a different number of derivative securities, pointed as cancellation of stock options. Most probably, they decided to get profit of the short-term uptrend by dumping their shares of common stock. Now ENZR is climbing again, though it’s not certain how long this up move can resist.[BANNER]

Energizer_Res..pngEnergizer Resources Inc. is a mineral exploration and development company based in Toronto, Canada. The company’s common shares are traded on the TSX Venture Exchange under the symbol EGZ, on the Over-The-Counter Bulletin Board under the symbol ENZR, and on the Frankfurt Exchange under the symbol YE5. Historical data shows that ENZR has entered an uptrend this October, though its price looks versatile.

According to its quarterly report, the company has generated no revenues and its operating loss has been constantly increasing, while the stockholders’ equity has been decreasing. The most impressive fact in the 10-Q report is that as of end-June Energizer had nil total employees and nil full-time employees and it engages consultants to serve as officers and to perform professional and administrative functions for the company. At the same time, the so called “Management Team” of ENZR states that it relies on their mineral properties,  but anticipates incurring operating losses in the foreseeable future. And above all, in case the company don’t succeed to raise additional financing, they won’t be able to proceed with their business plan, while any future equity financing will cause shareholders to experience dilution of their stake in Energizer.