Intense day on the market, unfortunately not as successful as hoped for. This was yesterday for Bonanza Goldfields (PINK:BONZ). It is possible, though, that there would be a crack in the relatively stable stock price by the end of the week. Which, in terms, would be an exception to previous trading frenzies this year.While most positive announcements about lucrative acquisitions cause sharp stock price increase, nothing of that sort happens for Bonanza. Yesterday is a good example. The company announced that it has not only secured financing from a German investment group, but also purchased two mining claims. Similar to previous announcements from January and February, while trading activity soared, the share price remained the same, closing at $0.01 yesterday. 
There might be several reasons for that, but all relate to investor confidence in the company. Financial statements, for one, are far from promising. This is what Bonanza managed in the two years of its existence, as stated in the last 10-Q with period ending Dec. 31, 2010:
- total current assets of $4 !!!;
- total current liabilities of $352k;
- total accumulated deficit of $3.5 million; [BANNER]
To further make a point, during the second half of 2010 the only operating expenses related to exploration activities were for the amount of $22k. Let alone the statement from last December about expanding the company’s management team. How are employees paid still remains a mystery, especially as judging by what is coming in the news these days. It seems Bonanza is nowhere near actual mining and eventually showing some revenues to shareholders.
Having this in mind, even if a slight increase of the stock price takes place this week, it is very unlikely that Bonanza would be able to escape the 1 cent field any time soon. Since the company has secured financing from a third party, there is hope that operations would start in the future. This is a long run, however, which not everyone has the nerves to endure.
