The blessed Portage Resources Inc. (PINK:POTG) stock furiously gallops. Only two trading sessions, one research report and a visionary reaction of FINRA made possible the increased with 129% value of POTG.
Two events not just made more frequent the pulse of POTG this Monday. They almost provided for the share price move to an arrhythmia.
The provider of equity reports Bedford Report released its research report on Portage Resources with an intention to keep investors “ahead of the crowd”, presenting the favurable for the company environment for gold production in Peru.
In the press release have been mentioned also the angry protests against the Newmont Mining's $4.8 billion Conga project which is, maybe, the biggest mining investment in Peru.
Portage Resources Inc. disclosed an 8-K form related to the controversial company's decision to pay stock dividends the same day. There, POTG stated that unanimously approves the revocation of the dividend. As an argument for this decision, the company presented the not yet received FINRA approval of the effective and the payment dates.
On Monday, on these events the share price closed the market with a decline of 7.60%. As the aforementioned research report has been available in Internet, it succeeded to encourage investors almost immediately.
On Tuesday, going furiously up, the share price banged 45.16%.
One consolation remains for investors with a long term strategy for POTG. The company has time to recover its deficit in millions. At the same time, the company’s executive officer Mr. Paul Luna Belfiore returned a total of 230,000,000 restricted shares to get them re-issued “concurrent with the cancellation of the dividend forward split”.