With Bernanke basically effectuating QE3, Gold’s spike on Friday to 1,780.20 is only helping to fuel the penny stock of Punchline Resources Ltd. (PUNL). The recently converted junior miner, previously focused on coin operated wannabe Mike Tyson punching machines, has seen PUNL stock rise to a new high again Friday. After the market closed Friday, they updated their corporate mission and went after a 2nd property to explore which is sure to add momentum to chasing the $2 level.
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PUNL Stock Chart
Market Cap: 80.00M
Close: 1.60, up 0.02 (1.27%)
Volume: 421,769
Dollar Volume: $657,485
High: 1.60
Low: 1.53
Trades: 237
Average Trade Size: 1,779
% Gain Since Our Alert: 66.67%
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A Bernanke led Federal Reserve has been very kind to precious metals with the price of gold rising from $570 an ounce to almost $1,800 an ounce and silver surging from $9.70 an ounce to over $34 an ounce since the Chairman was appointed in early 2006. Additionally, for the first time in over 3 decades, talk of a return to the gold standard has become part of U.S. mainstream politics with a portion of the official Republican policy adopted at the recent Republican Convention calling for the commission to look at reestablishing the link between gold and the U.S. dollar.
That said, Punchline Resources, having successfully acquired the Empress Gold and Silver Project in Nevada, is focused on building a well-diversified portfolio of highly prospective gold exploration and development projects. In doing so, the Company announced just after the market close Friday that it entered into it’s second agreement, an option to acquire a 70% interest in the Winnemucca Mountain Property, an advanced gold exploration and development project located in Humboldt County, Nevada.
So far, everything is lining up for PUNL to outperform the percentage gains Independence Energy (IDNG) provided during it’s run. Long and strong, PUNL stock is bullish on gold and silver exploration. Independence struck oil, can Punchline strike gold/silver?
About PUNL Stock
Punchline Resources Inc. is an emerging mineral resources company focused on both domestic and international exploration and development projects. Their website is now and can be viewed at www.punchlineresources.com.
Bottom Line: There is no pulling punches with the penny stock of Punchline Resources, PUNL. Up nearly 67% since we alerted readers on it, PUNL stock is clearly carving a new path each trading session into blue sky territory.
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