Friday the next 8.33% was taken off. Unlike the stock price, the traded volume of ENZR has increased by over 1 million shares for a day, which is a clear sign that investors are disposing shares intensively.According to the records, the last news about Energizer came up in end-November, when the company reported that “an updated National Instrument 43-101 compliant resource estimate for its 100%-owned Green Giant Vanadium Project in Madagascar has been completed”. According to the announcement, the company was ready to move forward with the NI 43-101 preliminary economic assessment, which would begin to quantify the underlying economic parameters for its project. However, it seems that the positive news couldn’t attract traders as ENZR continued to move down progressively.[BANNER]
Energizer Resources Inc. is a mineral exploration and development company based in Toronto, Canada. Last month, the company was climbing up again on good news, though not for long. Now ENZR is falling down, though the reason for the fall remains unknown.
The last 10-Q report of the company shows it has no revenues and its operating loss has been constantly increasing, while the stockholders’ equity has been decreasing. Moreover, as of end-September 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. Meanwhile, 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, if they are “unable to achieve the financing necessary to continue our plan of operations, then we will not be able to continue our exploration and our venture will fail”, while any future equity financing may cause dilution to the company’s shareholders.
