Bounce Alert: Promithian Global Ventures Inc (PGVI)
What’s better than a junior development stage mining company siting on a potentially very profitable property?
One that is DIRT CHEAP compared to its
peers, valued at only a fraction over one million dollars, and has had
its share price destroyed over the past couple of months from short
sellers and impatient sellers.
But their loss is our gain!!!
Meet today’s super bounce play, Promithian Global Ventures Inc (PGVI).
PGVI is currently trading just over a penny, and has a tiny market value of around $1.4 million (per OTC Markets).
The chart on PGVI has taken a beating over the past couple of months and we’ve timed our alert perfectly for the inevitable bounce.
Short sellers be warned – its time to cover, now!!!
We all know bounce plays are some of the most profitable, as shorts cover there positions, and buyers scoop up heavily discounted shares. And PGVI could see solid bounce of the next couple of days.
Why now? Looking at technical indicators, we see PGVI as
being oversold at these levels with an RSI of just 25. And judging by
recent price action, the selling / short selling has significantly
slowed to a point where buyers can start to feel more confident that a bottom is in.
PGVI is a Wyoming, USA incorporated development stage mining company currently exploring the Main Zone silver copper
vein on the historic Warburton property in the southern Yukon, Canada.
The intrusion related quartz-carbonate vein hosts high grades of silver
and copper as well as lesser amounts of zinc, arsenic and antimony.
Intrusion related silver/copper veins are excellent targets for high
grade, small scale, underground mines. PGVI is exploring
the Main Zone in order to determine the most efficient Narrow Vein
Mining method that will be used to exploit the vein.
The company has released some fine news recently. In fact, just a couple of weeks ago, PGVI
announced, in line with their focus on the acquisition of new
properties to diversify their mineral tenure portfolio, that they were
in negotiations to form an option agreement for a
Copper-Zinc-Silver-Gold property in Northern Canada.
Below is some more recent news released by the Company.
According to one press release, PGVI are
in the process of determining the quantity of silver and copper
contained in its Warburton property, while previous sampling has
indicated high grades of silver and copper.
And as the US economy continues to pick up steam, and the Chinese economy
stabilizes, metals such as copper are likely to be in more demand (and
increase in price) over the coming years, making PGVI‘s property potentially very valuable in the future.
Whilst there is much work to be done from
sampling to the extraction of the minerals, having read through the
company’s PR, all signs appear extremely positive for PGVI.
We think PGVI is poised to
bounce from these oversold levels in the coming days, and as the company
continues to release more positive news, we feel the catalysts are in
place for a major move higher.
Be sure to watch PGVI today and be ready to take advantage of this timely alert.
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