Finally ending a 10 month slide from 0.412, the penny stock of Energizer Resources Inc. (ENZR) rocked the OTC house today with their largest volume trading session in over 2 years. Shocking the world with news of greater than 99.9% graphitic carbon from a finished concentrate of the Company’s flagship Molo flake graphite deposit in Madagascar, Mojo is what ENZR stock had today as it threw up intraday gains of 166%. With revenues still not yet booked and cash slowly depleting, the update could be the saving grace needed to keep the mineral exploration above water.
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ENZR Stock Quote
Market Cap: 48.99M
Last: 0.279 ▲ +0.169 (+153.64%)
Dollar Volume: $263,593
Issued and Outstanding: 175,604,320
1st Resistance Point: 0.1167
1st Support Level: 0.1037
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Today’s busrt of life into Energizer Resources was thanks in part to SGS Canada Inc. , the world’s leading inspection, verification, testing and certification company. We are recognized as the global benchmark for quality and integrity. With more than 75,000 employees, we operate a network of more than 1,500 offices and laboratories around the world. The tested materials from Madagascar apparently had ultra-high purity graphite concentrate of greater than 99.9% C was achieved on a first-pass, single-stage hydrometallurgical purification test.
Prior to today, the Company hadn’t had much to say since May 14 when they retained the services of the Lakefield Ontario group to optimize its metallurgical process for the Molo graphite deposit.
The “load your boat” idea on ENZR stock came when the PR stated that “Based on these exceptional results, SGS will now begin the development of a comprehensive hydrometallurgical process flow sheet, which will be completed over the next 60 to 90 days and will be conducted in adherence to the technical guidelines of a Full Feasibility Study.” Translation: You have 3 months to get in to what will be a report.
What traders are hopeful of is that Energizer can somehow find a way to pt some numbers into the revenue column. Having already spent $7,013,881 for the 9 months ended March 31, 2013, $75,487,680 since March 1, 2004 when they were known as Yukon Resources Corp. until February 2007 and then Uranium Star Corp. (URST) until December, 2009, it’s going to take more than a test to bring real value to Energizer Resources.
As for what to expect heading into Tuesday, support for ENZR stock is so far below today’s closing price that chasing this runner could be a very costly exercise. Since late September, 2012, ENZR had been like a fat chick on a bicycle looking for work as a swimsuit model – getting knocked back each and every day like beers at an auto body shop at 5PM.
About ENZR Stock
Energizer Resources Inc. is a development stage company focused on the acquisition and exploration of mineral resources.
Last 5 Trading Sessions:
Someone took the restrictor plate off of ENZR stock today and decided that it needed a day off after diluting the penny stock for the last 10 months. At least the guys who got in on the CAD$2,358,000 non-brokered private placement for 12,350,000 shares of ENZR back in March aren’t so in the dumps anymore.
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