During yesterday's trading session, Earth Dragon Res Inc (OTC:EARH
, EARH message board
) stock was set on fire by the next wave of a stock promotion.
The flames of full of fire, passion and power dragon stock alerts heated the share price as much as maybe only a dragon's stock promotion can do it.
EARH closed the market at $0.275 per share with an 83.33% price explosion between the sessions.
The most remarkable element of the shares' performance from yesterday was not the rapid heating up of share price, but the share turnover. The daily average trading volume was turned almost twenty nine times, resulting in 39.4 million shares changing hands within the session.
For sure, investor enthusiasm to invest in Earth Dragon Res Inc. did not evolve from the most recent press release of the company. There, EARH repeated once again the information about its plans for joint mining activities with Chisu Gold Mine Limited.
Up to now, all above company's intentions have not been included in any way in EARH's SEC files. Further more, the panacea of the mentioned by the company National Instrument 43-101 might have finally convinced investors to have more speculative approach towards the company's shares.
As known, the National Instrument 43-101 is a rigorous guidance on how public companies disclose scientific and technical information about mineral projects on stock exchanges and under the supervision of the Canadian Securities Administrators. It also concerns disclosures of information to be made about mineral properties in Canada.
It sounds strange that Earth Dragon Res Inc. promised investors to present this April precisely such a report. The company is an U.S. registered and reporting SEC filer incorporated in the state of Nevada, U.S.A. The company's address of principal executive offices is in Tokyo, Japan.
According to the last official disclosures, EARH has a mineral property located in the State of Nevada, U.S.A and only intends to develop but not operate gold projects in Africa.
So, based only on these facts and on the latest press release, it is maybe clear why yesterday bids on EARH were so hot and short-term minded.
As mentioned in our previous article, just dragon's stock alerts about the "gold dragon" EARH at this stage of the company's development are rather stock promotional ballyhoo. The above one-day promotional effect was supported, as seen in our new data base for stock promotions, by 22 promotions in two weeks time and not less than fifteen promoters involved. If all this dragon's effort succeeded to "produce" a 83% share price gain, let investors remember that one day earlier EARH lost 40% of its value also over a day.