After the 111% rise on Apr. 25, Orofino Gold Corp. (PINK:ORFG) pulled 23.68% back. It closed at $0.29 for two sessions in a row and yesterday it managed a $0.30. The volume has also been declining.
The most natural thing after a promotion, especially one for a development-stage company, is a pullback. In ORFG’s case the pullback has been moderate and the price is still above the values from before the promotion.
The company announced the appointment of Dr. Hans J. Bocker as Chairman of the Board of Directors yesterday. The news didn’t seem to have any dramatic effect on the trading, but keeping in mind the promotion is still going on it could help in keeping the price up.[BANNER]
Changes in the management are sometimes viewed as one of the factors predicting a surge, but until there is more information on the operational aspect of USOG’s state, movements will be primarily based on charts and speculations.
