Doing a home run trot when you crushed a penny stock pick is something this business thrives off of, yet because there are just so many times that we put up a report in advance of a run, we admit that we don’t always throw our fists in the air about them. First Colombia Gold Corp. (FCGD) is a special case because, as we expected to see shares see some better days after they came off their 1-for-500 reverse split in April, today’s pumping of it allowed for those who have been trading it to bank for the second time in less than 3 months. Although their news today of a new 10 hole drilling program to expand oil production on their newly acquired leases is confusing to those who thought they were focused on gold, the run up from our 0.0225 call in May almost has FCGD stock as an official 10 bagger.
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FCGD Stock Quote
Market Cap: 4.86M
Last: 0.2349 ▲ +0.1049 (+80.69%)
Dollar Volume: $331,772
14-Day RSI: 90.36%
1st Resistance Point: 0.2733
1st Support Level: 0.1583
52Wk High: 0.30
52Wk Low: 0.0045
When we uncovered First Columbia Gold back on May 21, there was little to no doubt that loading the boat, the truck and every bag in the house with FCGD stock was going to pay off big for those willing to sacrifice some time and patience prior to the official start of summer. Almost immediately after our report, FCGD stock jumped from 0.0225 to as high as 0.10 before taking the usual course of an Asher Enterprises involved deal which was to slide to subpenny land up until news came out.
The first PR issued was back on July 22 which mentioned the appointment of Clarence Parks as the new President of First Columbia Gold. However, the real news was in the SEC filing which came out on July 15 detailing a deal for land, oil leases, and the equipment needed to pump and move the oil which is when traders who had FCGD stock on their radar really began to load up on shares.
With the acquisitions and such, the share structure has increased significantly from 1,273,628 at the time of our FCGD stock report to 20,673,354, 10,000,000 of which was issued to acquire 100% of certain assets, and a 19.5% equity interest in 3 oil and gas production, transportation and distribution companies, SWO & ISM, LLC; Hein Oil Well Services, LLC; and Hein Oil Co., Inc. This immediately put FCGD on the map since the assets acquired include land, buildings, transportation equipment, office equipment, drilling service equipment, vehicles, and oil leases and working interests as well as the real meat of the deal: the active leases which span across 1306.53 acres in Clinton County KY; 1330 acres in Cumberland County KY; 2532 acres in Monroe County, KY and 160 acres in Wayne County.
First Columbia Gold lists the value of the agreement at roughly $4.6 million which, if you do the math, 10,000,000 shares for a $4.6 million acquisition puts a value of 0.46 on FCGD stock. If the oil produces from the deal exceeds 2,500 barrels per month, approximately 80 barrels a day, another 10,000,000 shares are due to be issued so that would cut down the value of the deal to 0.23 per share – right around where FCGD closed at today.
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About FCGD Stock
First Colombia Gold Corp. is an exploration stage enterprise in the business of mining and exploring for minerals.
Click here to view the SEC filings for FCGD.
Click here to view the website for First Colombia Gold.
Issued and Outstanding: 20,673,354
Last 5 Trading Sessions:
So there you have it – FCGD is officially one of the best penny stocks traded after landing itself on the list of the top 20 percentage gainers for the day. Now that FCGD is officially being pumped, the bursts that have been traded on over the past 2+ months are likely to slow down to a steady up/down pace while Asher Enterprises takes full advantage of the new interest to get out of their convertible notes for a much larger upside than the novices who bought into it today. With traders making gains of well over 900% from free stock reports like when we first uncovered First Columbia Gold on May 21, I swear sometimes I think we should charge a monthly fee to be able to gain access to this site.
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