Toron, Inc. (OTC:TRON) share price has been climbing in four consecutive trading sessions and yesterday it reached a new 52-week high. The company was supposed to issue news on its mineral property acquisition but it has not done this so far. 
Yesterday, the increasing trading volume of TRON led to a higher share price as well. The market closed at $0.188, which is 13.94% higher than on Wednesday. A new yearly high for TRON has been reported at $0.19, while the total trading volume for the day was among the second highest with 1.91 million traded shares.
Latest news from Toron announced the company’s agreement to acquire an undivided 100% interest in a total of 193 mineral claims located in the Province of Quebec, Canada. In consideration of the acquisition, TRON has agreed to issue 8.5 million shares of its common stock and to pay a total cash amount of $40,000 in two installments – $15,000 had to be paid by Jan. 31, 2012, while the remaining amount, together with the common shares, had to be delivered by Feb. 29, 2012.
TRON has by now not announced or filed to the SEC that it has fulfilled its obligations, thus traders may be hoping that the news would come out any time. Particularly important would be to see where Toron provided the cash from, if at all. The company reported $0 assets as of Oct. 31, 2011 against liabilities for almost $67,000.
