The latest wave of promotional mails about Grid Petroleum Corp. (OTC:GRPR) came in yesterday. It didn’t manage to create nearly as much hype as the one from May, though.
GRPR closed at $0.12 for a 9.09% gain on 773 thousand shares. Neither the price increase, nor the volume for the session came anywhere near their values for May 1.
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This latest wave coincided with a PR from GRPR. It was announced as an update, but it doesn’t seem to give any new information other than that the development continues through GRPR’s 50% joint venture partner, and that the JV partners will initiate a comprehensive site selection study.
The PR goes on to repeat the announcement from May and the $225 million valuation of its interest in the lease. The market doesn’t seem to buy that valuation, and the market cap of GRPR is currently around $8 million.
The company may want to put out some financial reports, if it is to gain some credibility. PRs and promotions just don’t cut it at some point.
