Pushed by stock promotion over the last two days Gold Standard Mining Corp (OTC:GSTP) stock may become one of the famous gold plays, hunted by investor.
Increase in trading volume since this Monday already implies that some changes in the flat price movement may come.
Yesterday, like in a pre-promotion play, the price of GSTP soared 3.12% to close at $0.66 per share.
Finally, company’s stock was awakened after almost a month of poor performance with conservative volumes and little price changes.
One of possible reasons for this was that yesterday, Gold Standard Mining Corp. announced its financial statements for the quarterly period ended September 30, 2010.
With some delay, GSTP also announced its reports for the fiscal year ended December 31, 2009.[BANNER]
The optimistic information there was that Gold Standard Mining Corp. still have plans to produce gold and has renewed licenses on its mining sites.
Somewhat disappointing news in the company’s recent financial report were related to its revenues. Based on management’s decision as stated “not to sell the majority of gold until the last quarter of 2010 due to increases in the price of gold”, GSTP had no revenues for the three months ended September 30, 2010.
The letdown here is not the zero revenues reported. It comes from, presented in the GSTP’s balance sheet, $0 value of inventories and some not explained other current assets, valued at $537K.
So, one may ask “Were the gold is ?”.
For some investor theses two days, for sure, the gold will be in company’s shares, not in company’s inventories. As during the last gold for holders of GSTP November, the stock promotion may add some value to shares price, unfortunately, not known for how long.
Stock promoters present GSTP like a junior gold producer who has “a massive gold and precious metals reserves ($13.5 billion worth)”, not evaluated and reported by the company in its recent official disclosures.
Four promoters started the GSTP stock rally, each receiving $10K for two days of stock promotion. They already sent the first explosive alerts on GSTP.
