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Jun 19, 2013 total dollar volume
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By Ekaterina Zelenkova
Nov 10, 2011

The Blessed Portage Resources Inc. (PINK:POTG) Stock Gallops Furiously

POTG_price chart_091111.jpgThe 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.

POTG_from the site1.pngOn 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%.

This had been the day on which the company took the initiative in its hands. Portage made a company's update for those investors that are periodically checking the company's SEC filings. The press release announced again the company's decision to cancel the payment of a dividend. Further more, POTG stated that “the local community has given Portage their blessing” as opposed to the aforementioned protests in Peru.

As a result came the wild rush of the company's stock. The share price banged the next in row 58%, blessed by the Peruvian local community, researchers and investors. Even those with a speculative mood blessed it with their 44.03% share in the total trading volume of POTG.

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”.



Average Reader Price Target For POTG:

Going Up!
0.1598

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