Portage Resources Inc Soars
Shares of Portage Resources Inc(NDA) (PINK:POTG) are among the top ten most active penny stocks over the past few trading sessions as the stocks has witnessed a whopping gain of 740% in the past one month.
July 12, 2011, Portage Resources said that it planning to acquire the Holly Gold Properties located in Pershing County, Nevada. Portage Resources Inc(NDA) (PINK:POTG) is expecting the reach an official deal by Aug. 1, 2011, in the meantime the company will access the viability of the property thoroughly.
Shares of POTG started gaining momentum since Jun 15, 2011,when Portage Resources released multiple news in a week. Most notable was the company’s announcement about the expansion in Peru for the mining activities.
In the same week, POTG announced the additions of Mr. Oscar Tinoco as Director and VP, followed by signing a signing letter of intent with Airon Peru SAC and Albroock Gold Peru SA to acquire the Wukakuy properties.
Portage Resources Shows Strong Signs
Shares of Portage Resources rose all the way to $.11 to 0.95% within a couple of weeks. The stock later consolidated within a range of $0.75-$1.20 over the next couple of weeks.
On Tuesday, the stock was very volatile and made a new 52-week high of $1.24 and low of $0.72 and finally closed at $0.72, a fall of 20% over the previous trading closing price.
POTG had total outstanding shares of 637.20 million, of which 109.20 million shares are floating.
Portage Resources has a market capitalization of $591.66 million. The stock is looking very strong technically with record money flow and MACD crossing the power zone.
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