North Springs Resources (NSRS) and Harry Lappa Keep Gaining

It was speculated that Harry Lappa, CEO of Penny Stock North Springs Resources, Corp. (OTC: NSRS.OB) was a scam, a pump and dump. More than a month after NSRS showed up on traders screens, they announced today that the re-analyzed the potential reserve estimates for the Goldstar/One Arm Joe Gold Project made by previous operators.

NSRS traded as high as $0.97 in today’s trading session.
NSRS closing price today was $0.96, up 17.94% (+0.146).
NSRS traded volume of 16,703,384, a dollar amount of $15,083,156 based on VWAP: 0.903.
NSRS is trading:

  • $ 0.32 above its 20 day moving average,
  • $ 0.25 above its 10 day moving average and
  • $ 0.18 above its 5 day moving average.

NSRS is up 153.30% since December 29, 2011.
NSRS has a Market Cap of $668.16M with a 696.00M Share Float.

Though there are no actual reserves currently identified at Goldstar, the Company’s ongoing exploration activities are aimed at proving up reserves at the Goldstar site.

New data collected and surface observations from the ongoing drill program at Goldstar, coupled with historical data on the property, comparable mines in the surrounding area, previously available sampling and exploration data pertinent to the Goldstar site, and based on industry standards, indicate that the possible reserve estimate for the property could be as high as 2,769,230 tons grading 0.7 oz. gold/ton, or 1,938,461 ounces of gold.

NSRS is on every penny stock watch list and should be monitored closely for dips in stock price.

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