Although Titan Iron Ore Corp. (TFER) has been quiet in recent months on the new reels, their penny stock has been outperforming its counterparts this month. TFER stock price has risen 121% since June 1 and is currently having another ‘sleeping bull” day up 24.71% at 0.531 on volume of 213,093 shares. Since their plans to proceed with the exploration of the Wyoming Iron Complex, Titan Iron Ore appears to have found its legs and is stretching out the best month ever for shareholders of the junior miner.
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TFER Stock Chart
Market Cap (intraday): 27.07M
(Mar 16, 2012): 1.57
(Jun 5, 2012): 0.17
50-Day Moving Avg: 0.29
200-Day Moving Avg: 0.74
Avg Vol (3 month): 406,181
Avg Vol (10 day): 112,138
Shares Outstanding: 51.07M
Back in April, the Company announced they had closed the deal on the option to purchase the Strong Creek and Iron Mountain Iron-titanium mineral project located in Albany County, Wyoming, otherwise known as the Wyoming Iron Complex. The Wyoming Iron complex consists of over 23 unpatented mining claims aggregating approximately 683 acres.
Other than a 10-Q filed for Q1, TFER has been relatively quiet. Their Q1 financial highlights included cash of $850,207, total liabilities of $122,763, and an accumulated deficit of $2,276,239. No revenues were generated, which is of no surprise, and total expenses for the quarter calculated to a net loss of $1,246,043.
About TFER Stock
Titan Iron Ore Corp. is focused on the acquisition and development of iron ore exploration and development mining properties located in regions that enjoy stable politics, sound economies and friendly business environments. Currently the Company has exercised its option to acquire the Wyomex Iron Complex project in Albany County, Wyoming, USA.
To view the SEC filings of TFER, click here.
Bottom Line: TFER has been an outstanding penny stock this month and has done nothing to put itself into the investor spotlight. If someone gets hold of this and starts buying up shares, TFER stock price could easily make a run at its YTD high of $1.81.
Keep TFER on your list of penny stocks to watch, some profit taking should take place before next week’s 4th of July holiday which would open some entry points.
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