A dream few penny stock traders ever seem to realize is the ability to be first in on a ticker that is set to make moves upwards to levels which impress even the best of us. Take Mammoth Energy Group, Inc. (MMTE) for example, they aren’t really a new ticker by any means, but they did just come off of a 1:2000 reverse in August and announced yesterday that their “DTC” chill had been removed. Assuming that they can effectively raise some capital to exploit the 7 different lithium properties spread around 28,000 combined acres in Chile, getting into MMTE stock now could be better than a skybox seat to the upcoming SuperBowl.
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MMTE Stock Quote
Market Cap: 435.00K
Last: 0.0435 ▼ -0.0085 (-16.35%)
Issued and Outstanding: 10,000,100
14-Day Rel Strength: 48.26%
1st Resistance Point: 0.0492
1st Support Level: 0.0407
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Mammoth Energy Group is preparing to engage in the mining and extraction of lithium via their Chilean subsidiary, Compania Lithium Investments Limitada. That’s the story at least, but considering that Lithium, the world’s lightest metal, is used primarily as the energy source in the batteries used to power laptops, tablets, cell phones, I-pads and a myriad of other portable electronic products, restructuring their shares with the reverse split could really be beneficial for MMTE stock as long as they can back it up with a strong PR campaign.
Per their most recent filings for the 3 months ended September 3, 2013, the Company had $150 on hand to go with their $222,273 investment into Chile. Convertible Notes payable totaled $89,430 as of the end of the period which could be a major concern since they are still in the exploration stage and have yet to produced or market any lithium or other commercial minerals since they acquired a controlling interest, 99%, in Compania Lithium Investments Limitada.
Setting that aside, William Lieberman, President and CEO of Mammoth Energy Group said in a PR statement yesterday that “We are in receipt of a letter from DTC acknowledging the “Chill” removal and have reviewed a recent activity transaction journal supplied by our transfer agent, Transfer Online Inc., which now confirms DTC’s decision to accept XDSL share deposits and transfers into street name.” Their website is under renovation which should allow for a real idea as to how well MMTE stock could perform given the effort the Company puts into their online presence.
Since traders can now actively attack what looks to be a low floater (4,615,222) in MMTE at a pretty cheap price, about 3X the 52 week low, 0.0105, set prior to Christmas, adding this one to the active watch list is pretty much required.
About MMTE Stock
Mammoth Energy Group, Inc. is a development stage company focused on acquiring, developing and operating strategic mining energy reserves in locations throughout the world.
Last 5 Trading Sessions:
You gotta love the “DTC Chill Removal” announcement about as much as you have to love the name of the Company – Mammoth Energy Group. The 2, separate or together, put enough subliminal messages into the mind that MMTE being a profitable trade for a speculative penny stock is nearly a given. The chart for MMTE stock looks pretty terrible, but who hasn’t seen those types of charts go into full reversal mode with just a little bit of attention to a ticker.
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