Violeta Slavtchevska

All American Gold Corp. (OTC:AAGC) Stock Overflowing with Promotions

by Violeta Slavtchevska September 15, 2011
The week so far has offered plenty of promotions and news for All American Gold Corp. (OTC:AAGC, AAGC message board), but its stock price fell back down in two consecutive trading sessions. Today, AAGC will also trade under the influence of the next promotional newsletters, though any further substantial effects are maybe not be expected. 8AAGC.png

Given that AAGC has been promoted almost every day in the last two weeks, it climbed recently to $0.94 for a share. Though, as such promotional effects are usually short-lived, the share price has tanked after the promotion. Yesterday's session closed with a minor 3.33% increase at $0.62, while the trading volume has decreased and amounted 484,200 traded shares.

New promotional newsletters for AAGC have arrived yesterday, but this is hardly any news for traders. According to our database, there have been 30 promotional e-mails for the stock this month only and the total amount spent by the paying third parties on the promotions is $93,500. Thus, any new promotions would probably have minor effect, especially considering that currently AAGC stock holds a market value of over $57 million - a value already high enough for mining company that has not produced any gold yet.8All_American_Gold.jpg

On Monday this week, AAGC announced the start of the drilling program on the company's Goldfield West project in Nevada. According to the press release, the property is located in a region known for historic gold production. In the beginning of the month, the company also filed an 8-K which said that All American Gold has issued 400,000 shares of its common stock at a price of $0.70 per share for total proceeds of $280,000.

It has not been mentioned if that amount would be sufficient to cover the company's outstanding obligations and commence the drilling program.

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