Although they have faled to provided updated financials since July 31, 2009, Gemini Explorations Inc. (GMXS) prepared accordingly to rally their penny stock. Filing an 8-K in September to specify exactly how many shares there are outstanding, the front loading of GMXS stock took place last week in hopes some fish will take the bait and stuff their chum bags with shares. Since revenues, or even discovering gold, are as likely as someone hitting a home run from Holiday Park across Sunrise Blvd. into the Gemini registered address, the well has been turned on.
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GMXS Stock Chart
Market Cap: 5.45M
Close: 0.04, up 0.008 (25.00%)
Dollar Volume: $84,994
Average Trade Size: 46,297
Issued and Outstanding: 136,351,037
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Back in June, Gemini reported sampling results from the La Tapada Gold Project in the El Bagre-Zargoza mining district, department of Antioquia, Colombia. Focused on developing two gold projects in Colombia with a potential asset value of approximately $4 billion at today’s gold prices, Gemini fell off the map and into the abyss until recently.
With some REG-D sales from earlier in the year and a failed attempt to rally back in May, GMXS will be on the radar for some traders looking to turn $50 into $65 come Monday. Since over 4 million shares have recently been added to the chum bag for any sharks in the water, the likelihood of this overshadowing big money plays like Global Stevia Corp. (GSTV) or Bio-Matrix Scientific Group, Inc. (BMSN) on Monday are highly unlikely.
About GMXS Stock
Gemini Explorations, Inc. is an exploration stage corporation which had the right to conduct exploration activities on one of the Company’s properties, but the Company has since let that mineral claim lapse. The Company had intended to conduct exploration work on their La Planada project located in Colombia, however, the likelihood that a commercially viable mineral deposit exists is remote.
Last 5 Trading Sessions:
Click here to view the SEC filings for GMXS.
Bottom Line: GMXS may be a penny stock worth watching if you are strapped for cash and desperate for a play on Monday. Other than that, GMXS stock has likely already topped off any real gains available and better off on the bench unless, at the open, the traders come out like the Patriots and just looking to spank that ask for the first quarter of trading.
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