nnn_chart.pngNiMin Energy Corp (TSE:NNN) (PINK:NEYYF) managed to reverse their falling share price after announcing they will seek ways to improve shareholder value.

NNN stock price bounced up 15% on Monday and generated extraordinary trading volume of 639.7 thousand which was nearly six times larger than the average 116 thousand. This ended the streak of sharp share price declines which had lasted for five days after the stock broke below 80 cents per share and had brought its market cap below the book value.

NiMin said in the news that it is reviewing strategic alternatives to increase shareholder value and hired Macquarie Capital as their financial advisor.

The plan was formed after the management deemed NNN stock to be undervalued and decided they need to improve the shareholder value in the near term. Nothing specific was disclosed at the time as the company remains open to any kind of alternatives from strategic financing to merger or even sale of the business.

NiMin_logo.jpgNiMin has been bashed for its inability to contain expenditure and generate profit, while having high potential properties and favorable oil prices. NiMin holds proven reserves ranging of around $215 million to $311 million and had 1,154 barrels per day production in the third quarter.

Nonetheless, the company holds a market cap of only $46.2 million, with an extra push it received from yesterday’s decision to do something about that. Their book value is $50.4 million, so it was about time the stock price decline stopped.