The end of last week was the time of TG World Energy Corp. (CVE:TGE), (PINK:TGWEF) stock revitalizing.
The shares’ headlong bouncing up resulted from news related not so much to company’s Tindalo operations update, but more to the forthcoming acquisition of TGE.
On Friday, on the TSX Venture Exchange the trading of TGE stock got resumed by the Investment Industry Regulatory Organization of Canada, which like raised dam unleashed the hot bids on the shares of TG World Energy Corp.
Being temporarily stopped, the price soar of TGE stock touched 44.44% in a day. The trading volume of 3.5 million shares exceeded ten times the average for the company and confirmed investor expectations about the better future of TGE.
At the end of this November, TG World Energy Corp. disclosed its last financials. There, the company reported an accumulated deficit of $34,61 million since inception, a net loss of $25 million for the nine months ended September 30, 2010 and lack of any economic capacity to cover its capital needs.[BANNER]
That news reasonably lead to the stock’s repricing into the lowest possible levels up to the date of the news related to TGE acquisition by TVI Pacific Inc. (TSX:TVI), (OTCQX:TVIPF).
Although the share price of TVI is in a lower trading range ($0.08 – $0.14) than that of TGE ($0.04 – $0.21), the worthy for TVI $13.5 million deal succeeded not only to support TVI’s strategy to leverage its extensive relationships in the Philippines by entering the local oil and gas sector. It was in the power to revitalize even TGE stock.
Last Friday, the shares of TG World Energy Corp. formed a huge price gap and closed the market at $0.065. As if for the last time this year, the company’s shares bounced up from the bottom, holding the hope for their new incarnation next February.
