Ever since Amerilithium Corp. (OTC:AMEL)
announced it had entered into a two-month investor awareness program, AMEL stock has been doing nothing but riding high on the charts. However, how far will it go?
On Dec. 22, the Company came up with an official press release stating that it had sealed an investor awareness agreement with Circadian Group in order to gain greater exposure to prospective stockholders. To achieve this target, the PR firm undertakes to be providing high-quality information about AMEL for a two-month period starting on Jan. 2, 2012.
Whether the Circadian Group will resort to classic pump-and-dump schemes or opt for more avant-garde techniques is still uncertain. What is known for sure, however, is AMEL's unprecedented surge which kicked off shortly after the company revealed the above mentioned agreement to the general public. In accordance therewith, AMEL closed the last session of 2011 with an impressive gain of 27.5% to $0.19 per share. The latter is AMEL's highest market value since early-September. Moreover, with more than 832 thousand shares changing hands, AMEL set a six-month volume record.
Amerilithium a publicly traded entity which occupies the mining industry. It is mainly focused on the development of its Lithium portfolio. At present, AMEL has four Nevadan projects, all of which located close to America's only Lithium producing plant.
AMEL finished the third calendar quarter of 2011 with:
- $500K in cash reserves and current assets;
- $10K in current liabilities;
- net quarterly loss of $190K;
The company has evaluated its mining claims at $7.2 million. Yet, until AMEL starts extracting lithium from its properties, the latter might remain overpriced, at least for the time being.