After trading very light volume compared to the past 10 days and gaining 20.91% on the day, hot penny stock North Springs Resources Corp. (OTC: NSRS), is attempting to turn the spotlight from it being a volatile stock by focusing its sights on Chihuahua, Mexico. NSRS announced late last night another Letter of Intent to acquire a 10% interest in an option on four producing gold properties.
North Springs Resources has been the penny stock to watch since it climbed 2,200% from $0.07 to $1.72 in 4 months time. The new NSRS announcement includes a new milling facility to be built in connection to the 10% interest in Chihuahua, Mexico. The four producing properties in Chihuahua NSRS claims host an estimated inferred gold resource in excess of 1,000,000 ounces, as outlined in recent technical reports according to Harry Lappa.
Interest in an existing mill was to be included in agreement made by the penny stock gold exploration company, but, according to reports by NSRS, the parties have agreed that building out a new mill would best serve the partnership by having greater dedicated capacity to lower shipping costs, shorten processing times, and improve overall operating margins which could also generate significant toll-milling revenue for NSRS and its partners.
NSRS One Month Stock Chart:
NSRS was thinly traded Thursday with 27,434,491 shares traded in 4,112 trades totaling $13,583,845. Average trade size: 6,671.81 shares ($3,303.46 per trade). This is not the type of penny stock you should feel comfortable holding on to over the weekend.
Subscribers of AimHighProfits FREE newsletter and alerts have made huge amounts of money, ordinary people who buy penny stocks as a hobby or in their free time rather than as a professional day trader, on NSRS before its collapse. Due diligence is required before making any investment into a volatile stock like NSRS.Share