On all the recent news about Portage Resources, Inc. (PINK:POTG), its stock has been consequently gaining value on the market. On Friday, the company announced positive due diligence results on the Wukakuy Properties, while POTG new CEO and President must be particularly happy about the stock performance. 
POTG closed the session on Friday with a 37.25% jump in its share price at $0.556 for a share. Trading volume was also remarkable with over 20 million traded shares. It looks like POTG value kept appreciating on the latest press release from the company. It announced on Friday morning that the due diligence on the Wukakuy Properties has been very positive. The PR claims that the given results are based on a N43-101 report prepared by a qualified geologist, and that the property contains silver reserves with a value of $2 billion.
Within the session that followed that announcement it looked like POTG market cap was trying to reach that value, though being currently “only” about $354 million. As compared to the company’s total assets as of end-February of $533, all in cash, that looks like a pretty optimistic value, implying that if POTG does not prove soon its potential to create a source of revenue a massive crash could follow.
One person must be particularly interested in the value of POTG stock, however. The latest 8-k filing of the company says that at the end of May Paul Luna Belfiore acquired 480 million shares of POTG issued and outstanding common stock, representing 75.33% of the company’s total issued and outstanding common stock.
Mr. Belfiore purchase those shares from two persons: the former President, CEO and Director Martine Caron, and the former CFO, Secretary, Treasurer and Director Russell L. James. They have resigned from their positions the same day and Mr. Belfiore has been appointed as POTG sole member of the Board of Directors, President, CEO, CFO, Treasurer, and Secretary.
