Stock promotions for SILA are getting even more intensive this month, though after the initial success, a downtrend has established. The share price tanked to $0.65 during Friday’s session and closed at $0.67, or 9.47% down from the previous close. The 731,000 volume was slightly above the average, showing probably that the promoting still manages to sustain the 22,333 P/B ratio of SILA stock.
A number of new promotional disclosures have been made since the beginning of the month, according to which almost half a million dollars have been spent on the optimistic traders’ attitude towards SILA.
Moreover, since July SILA is also covered by the “independent researcher” Skymark Research, that has these days become some tragic fame for its criminal and undisclosed promotional activities. Even after Skymark’s previous clients PBEC and TSHO have been suspended from trading, Skymark still claims to be independent and does not disclose its compensations.
But sustaining a high market price for SILA stock seems vitally important and no price seems too high to pay, especially in regard of the newly announced project of the company. With a poor $41,000 cash position, no assets and no revenues, the stock market remains the only source of funds for companies like SILA.
Obviously, the agreement from the beginning of August to acquire an option to purchase a 100% interest in two mining concessions in Opodepe Municipality, Mexico is currently barely affordable, as is requires an initial payment of $40,000 on the date of the agreement execution. Even if acquired, the so called “La Escondida Option” would require a total payment of $765,000, which automatically makes it not exercisable under the current circumstances, just like all the other options that SILA already has.
Today, we shall see if the regular update on the Guadalupe property will have a positive impact on the share price of SILA.
