These two days, the “minerals' fever” got to its apogee. Regardless of whether the “symptom” has been gold or oil, North Springs Resources Corp. (OTC:NSRS) stock has been able to cause it. NSRS has now become the top favourite on the OTC market.
A company with one almost unsuccessful project in oil exploration and intentions to discover gold fascinated all types of brave investors.
The runners in short distances on NSRS have been in a hurry. They wanted to bank gains before the gravity of the short squeeze on NSRS will return the share price to a much lower trading range.
Those, that preferred the long distance running invested in the stock, being fascinated by the prospects of North Springs Resources Corp. and its low yet indebthnesess.
For a second consecutive trading session, NSRS remains the most attractive security on the OTC market. A new trading symbol, one press release about an aggressive exploration program and stock promoters' consensus succeeded to shoot the share price into the sky.
All happened very fast and easy. It is hard to say how long the stock rush may continue and how profitable the investment in NSRS may be.
On Tuesday, North Springs ResourcesCorp. released its detailed work program for the North Springs Gold Property. The property is leased to the company with the right to conduct mineral exploration activities for a period of ten years on sixteen unpatented mining claims located in Esmeralda County, Nevada.
Before putting of all efforts to the aforementioned new “gold business approach”, NSRS was focused on oil exploration. The company concluded a joint venture contract with Patriot Financial Group last April. North Springs Resources acquired a working interest in the Washom II Lease Project in Rogers County, Oklahoma.