Violeta Slavtchevska

All American Gold Corp. (OTC:AAGC) Gets Promotional Coverage for Today

by Violeta Slavtchevska September 8, 2011
It looks like the strong uptrend of All American Gold Corp. (OTC:AAGC, AAGC message board) might get continued today. Yesterday evening, a promoter has covered AAGC in a promotional newsletter, while news on the company's mineral properties might be also on the way. AAGC.png

The last session closed at $0.85 for a share on a trading volume of 21,345 traded shares, or slightly higher than the average for the past 30 days. AAGC opened the market with a gap up, but then the closing price was only 1.19% higher than on Tuesday. Since AAGC started trading actively in mid-May its value has increased from under $0.40 per share to the current level. However, it seems that this is not due to any particular development related to AAGC mineral properties, but more to improved investor relations.

The promotional e-mail that profiled AAGC yesterday evening has been sent by a promoter who does not seem to be among the market leaders. The compensation for the promotion consisted of $6,500 and has been paid by a third party. Previously, on August 1, 2011 All American Gold signed also a consulting services agreement with a company named Parkside Communications, Inc. who is expected to establish an investor relations program for AAGC and who will get $5,000 per month as compensation.All_American_Gold.jpg

AAGC latest 10-K also confirms that the company should be currently putting all effort to find new investors. At the end of May 2011, the cash position was around $9,913 and AAGC was unable to fulfill certain obligations for the acquisition of its mineral property interests.

In particular, AAGC was supposed to issue certain shares to its partner and pay $70,000 in property expenditures by January 20, 2011, which it has not done so far. According to the 10-K, AAGC is expected to move forward with its obligations by the middle of the month, whereby it is also possible that the option agreement is terminated.

The agreement was signed in August last year and it concerns an option to acquire three mineral interests: a 70% interest in a property called the "Belleville" property in Mineral County, Nevada; a 35% interest in a property called the "Goldfield West" property in Esmeralda County, Nevada; and a right of first refusal on an exploration property called the "Iowa Canyon" property in Lander County, Nevada.

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