Traders will have to make a decision on Monday when it comes to playing South American mining explorers. Everybody knows the central Ocros province in Peru, about 230 miles from the capital, Lima, where Nilam Resources Inc. (NILA) has their two mining projects at. So now that they have a new website launched to display some purty pictures, NILA stock is set to get off its keister and exploit the property they acquired 3 years ago for 20 million shares. With just $692 in the bank as of July 31, they should easily be able to afford a few shovels and another PR for Monday morning.
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NILA Stock Chart
Market Cap: 8.41M
Close: 0.15, up 0.05 (50.00%)
Dollar Volume: $6,286
Average Trade Size: 3,699
Issued and Outstanding: 56,062,345
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More than three years ago, Nilam Resources, through its wholly owned Peruvian subsidiary, Nilam Resources Peru SA, acquired the right, title and interest in and to Linderos mining concessions, Peru. Even though they have some geological information on the Llipa properties, no systematic exploration on those claims has begun. You might expect that since, in consideration for the property, the Company issued 20,000,000 shares of NILA stock, which it valued at $200,000 and then adjusted it to be $7.2 million, that they may have already done some testing.
Beyond that property, the Company also owns 28,500,000 shares of Portage Resources Inc. (POTG). The shares have a book value of $1,484,045 coupled with an unrealized loss of ($1,164,386) since you cant lose what you don’t sell. Such events shouldn’t be the case for the shareholders of NILA who either bought shares or had notes converted at 0.02 each since April, 2012 — 5.72 million of them. With three veins, rich in gold, silver and copper, and claims to plan for monthly output of 4,000 tons per month to start, expanding to 6,000, those 2 cent shares will be capturing every last bit of buyers available since exploration is as likely as production — NIL.
About NILA Stock
Nilam Resources, Inc. is an exploration stage mining company that is engaged in the acquisition and exploration of mineral properties with the objective of exploiting any mineral deposits the company discovers. The Company owns properties in Peru through its wholly owned Peruvian subsidiary to hold title to these claims and any other claims which the company may acquire in the future. There is no assurance that a commercially viable mineral deposits exist on any of the properties.
Last 5 Trading Sessions:
Click here to view the SEC filings for NILA.
Bottom Line: Those unaware that Awesome Penny Stocks is announcing this week may get suckered into NILA rather than wait for word on SWVI. With two whole days of attention scheduled for NILA stock, the sporadic trader this month is about to ride the “D” train for two consecutive sessions at the same price as SWVI stock. If one had to choose between a Chilean or a Peruvian miner with no actual exploration activities commenced, patience pays to go further south to Chile for bigger gains.
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