This week was the time of the successful adulthood of Lithium Exploration Group, Inc. (OTC:LEXG) stock. Maybe, it will be bold confirmed today on the recently announced news about the empowered company’s management body.The price of LEXG, given only the few months of trading history, this Tuesday rose 410% in response to the superior investor appreciation towards the company’s potential.
The trading session yesterday was even more fascinating for holders of LEXG. Though the thirty times turned daily average share turnover from the previous day may entail a share price rolling down, LEXG exploded one more time.
The shares of Exploration Group, Inc. not just continued the upward direction, but formed a huge price gap, closing the market 8 cents below $1 and hinting a new high.
It is hard to predict how the company’s stock will perform today on the recently announced appointment of Mr. Alex Walsh as the company’s CEO. According to the release, Mr. Walsh has experience in the creation of strategic partnerships and in raising capital for junior operating companies. This fact outlines the next strategic step of Lithium Exploration Group, Inc.
As opposed to the new stock symbol LEXG, the company is not unknown to the investment community. Lithium Exploration Group, Inc. was incorporated in 2006. At the end of last November, the company changed its name to Lithium Exploration Group, Inc. as a result of a merger with the company’s wholly owned subsidiary Lithium Exploration Group, Inc.
Since its inception, the former Mariposa Resources, Ltd. and the “new” LEXG are focused on the acquisition, exploration, and development of resource properties.[BANNER]
Most recent company’s developments are related to the funds raising and to agreements related to the company’s interest in mineral claims.
In January, in a private placement LEXG sold 250,000 shares to two unrelated off-shore investors at $1 per share for total cash proceeds of $250,000.
In the same period, Lithium Exploration Group, Inc. entered into an agreement to acquire a 60% interest in mineral claims known as the Salta Agua Claims, located in Salta Province, Argentina.
Maybe, one of LEXG’s strengths which influenced the unprecedented shares’ demand is its financial status. As of December 31, 2010 LEXG reported a working capital deficit of only $139K and an accumulated deficit of $238K since inception.
