Bounce Alert: Promithian Global Ventures Inc (PGVI)
Good evening,
As promised, our new pick for Tuesday is 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.
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 on Tuesday and be ready to take advantage of this timely alert.
The Team
PennyStockGeneral.com
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