During the last three weeks, the market of Portage Resources, Inc. (PINK:POTG) stock has been flooded with stock promotions and press releases. As of yesterday POTG has formed a very bullish trading pattern on the chart, but yesterday the share price stopped rising up at a resistance level established back in July. 
POTG closed with a 21.40% gain on Monday at $0.363 for a share and a trading volume of nearly 41 million shares. One of the factors supporting the three consecutive gaps up at market open seems to be the latest promotional campaign for POTG. It has been compensated with 10,000 CAD and our database has counted 16 promotional e-mails for the month of September, coming almost on a daily basis.
Another thing coming on a daily basis for POTG recently are its press releases. The last one is from yesterday evening and it announces the company has opened a new office in Lima, Peru for its recently established Portage Minerals S.A. The latest run of POTG share price seems initiated by a preceding PR which said that Portage Mineral has signed a definitive agreement for a 55% interest in one more gold/silver mining project located in the Chiquian district, Department of Ancash.
That only adds to the described in the 10-K other recent agreements of POTG subsidiary, however, for now all of these undeveloped mining claims could only hold potential, which makes POTG future prospects highly uncertain. The company has mostly issued shares of its common stock in consideration of the agreements, however, significant cash payments are required as well.
Unfortunately, POTG cash raising activities have been much more limited than its acquiring of interests in mining projects, which has to change very soon if the company is to start an exploration program. As of end May 2011 POTG had zero cash and zero assets, subsequently it raised $50,000 in a private placement of 5,000,000 shares.
