With the financing support of Southridge Partners II, LP and their $5 million commitment, El Capitan Precious Metals Inc. (ECPN) would rather August not end. Gaining 70% since the beginning of the month, ECPN stock has made it on to a number of watch lists even though the junior mining company hasn’t booked $1 in revenues during the course of their 10 year history. However, that appears to have an end in sight according to Chuck.
The group financing the exploration company, Southridge Partners II, LP, has ties to other great penny stocks like Stevia Corp. (STEV), Iconic Brands (ICNB), Attitude Drinks (ATTD), and Neah Power Systems (NPWZ).
Our New Alert Is Set For Mid-September! Click HERE To Make Sure You Don’t Miss It!
ECPN Stock Chart
Close: 0.425, up 0.035 (8.97%)
Volume: 457,892
Dollar Volume: $191,024
High: 0.43
Trades: 77
Average Trade Size: 5,946
Authorized: 300,000,000
Issued and Outstanding: 250,403,222
30 Day Percent Change: 77.08%
30 Day Moving Average: 0.3158
30 Day Average Volume: 316,071
Looking for Hot Penny Stocks? Click here and get Alerts on the Best Penny Stocks FREE
The only news fueling any activity on the penny stock of El Capitan came on the 8th of August when the Company successfully tested the production process for the recovery of precious metals from concentrates. If this test is indicative of the Company actually making a deposit into their account that gets reported as revenues, then its more than successful – it’s monumental.
A test run of this new process, on 700 pounds of concentrates from the El Capitan property in New Mexico, yielded results consistent with those achieved for the sale last year of a dore bar to Gannon & Scott, one of the leading precious metals refining and assaying services companies in North America.
According to ECPN President and CEO Chuck Mottley, the specifications for grinding and concentration are being fine-tuned to assure the most effective recovery of gold and silver using this process. Mottley confirmed that ECPN has contracted to process approximately 180 tons of concentrates that it has on hand in Houston and at the mine site. “This project will be in production within the next several weeks,” Mottley stated. That was on the 8th of August.
About ECPN Stock
El Capitan Precious Metals, Inc., a precious minerals company based in Scottsdale, Arizona, is an exploration stage company that has owned interests in several properties located in the southwestern U.S. in the past. The Company is primarily engaged in the exploration of precious metals and other minerals. The primary asset of the Company is the 100% equity interest in El Capitan, Ltd., an Arizona corporation, which holds an interest in the El Capitan property located near Capitan, New Mexico.
Bottom Line: Precious metal focused penny stocks have long had the attention of long investors and subject to mini-runs on speculation from time to time. ECPN appears to have gained the attention of traders, and considering they can’t really dilute the stock much more, ECPN should be watched for swing trade set ups and a possible burst in the short term.
Here is your opportunity to subscribe to the Most Read Penny Stock Newsletter
If You Can’t Make Money With Us, You Shouldn’t Be Trading Penny Stocks
(We are 100% Anti-Spam and will never rent or sell your information)
ShareAUG
