Looks like investors tagged Ashburton Ventures Inc. (CVE:ABR), (PINK:ASHXF) stock to grow on the last release of the company about the raising of funds with the substantive support of Premier Gold Mines Ltd. (TSE:PG).Not less important for the explosion of the company’s shares on two markets was the fact that the proceeds from the private placement will be used to continue the most advanced ABR project Deep Creek, located near Elko, Nevada.
On the TSX Venture Exchange, ABR added 119.05% in value on the news to close at $0.23 per share. More than 56.50 million shares changing hands was the volume traded during the last session. This was more than twenty daily average volumes turned over in a day.
On the American OTC market, investors were also inspired by the last positive news about the company and its gold Deep Creek project. ASHXF stock surged 95.80% in an unprecedented for the “Grey”stock trading volume.[BANNER]
Yesterday, the shares of the future holder of 14% of ABR’s current outstanding capital Premier Gold Mines Ltd. pulled back 2.01%, though investors will appreciate the increase of PG price on the news for the increased share in ABR.
Last Thursday, Premier Gold Mines Ltd. released the closing of a private placement for gross proceeds of $4.95 million to fund its exploration properties in Canada.
PG will invest $600,000 in Ashburton Ventures Inc. through the purchase of 7,500,000 units at $0.08. It is expected that the above mentioned financing in ABR is closed near December 22, 2010.
