Thanks to a 1-for-500 reverse split last month and plans to move forward exploring a former lead, silver, and gold mine, the penny stock of First Colombia Gold Corp. (FCGD) has the potential to be a triple digit winner as of now. The stock split, effectuated April 22, 2014, was done so that shares could be issued in place of cash as the exploration company begins to close on the deal to start digging in the Nile Mine project, approximately 55 acres located in the Marysville Mining District in Lewis and Clark County. With a mere fraction of shares existing, jumping the gun by pulling the trigger on FCGD stock before news of deals are announced looks like a “golden” opportunity with clear blue skies ahead.
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FCGD Stock Quote
Market Cap: 14.01K
Last: 0.0225 ▲ +0.0115 (04.55%)
Dollar Volume: $4,090
14-Day RSI: 46.58%
1st Resistance Point: 0.0267
1st Support Level: 0.0142
52Wk High: 0.60
52Wk Low: 0.01
First Columbia Gold has a few projects already cooking in their portfolio of exploration plans with the Skip Silver Prospect in Montana and the LC uranium prospect in Washington. Permits for exploring the Montana site are said to be filed later this summer while, in 2013, the company stated to have already explored some of their eastern Washington site for uranium prospects and staked unpatented mining claims.
There is also the Boulder Hill Project located in Lincoln County, Montana which has been on the top of the project list now for more than 2 years. The inability to drum up the $602,800 budgeted so that they can begin to screen for stratabound gold occurrences on the land looks more likely to occur now that there are more than enough shares of FCGD stock that can be used for creative financing packages with the likes of TCA Global and Asher Enterprises.
Asher Enterprises, Inc. has been on the books of First Columbia Gold Corp. since November 23, 2011 and had 10 notes issued in total with 5 of them still on the books as of March 31, 2014. Prior to the end of 2013, the Company strategically converted a large portion of the debt on their books by issuing 495,328,035 shares of FCGD stock, yet there is still some $54,135 worth of convertible debt which Asher is due to collect on.
Even with the dilutable future FCGD stock is sure to have in the coming months, the timing couldn’t be better since the “D” was just removed from the ticker symbol earlier this week. The PR issued on May 12 backs up the theory that things are going to move ahead for First Columbia Gold and their mining plans which should all but force Asher Enterprises to behave properly until volume starts to pick up.
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About FCGD Stock
First Colombia Gold Corp. is an exploration stage enterprise in the business of mining and exploring for minerals.
Issued and Outstanding: 1,273,628
Last 5 Trading Sessions:
You hate to see Asher Enterprises connected to such a low float penny stock, but, be that as it may the chances of FCGD seeing some green sessions before the dump trucks arrive is pretty good. Since the FCGD stock is actively traded and roughly 25% of the issued and outstanding was transacted yesterday, a burst of volume could easily send the shares well above 0.05.