With one mineral mining claim to its name, the “Tara Property”, the penny stock of Press Ventures, Inc. (OTC: PVEN) is ready to embark on its pumping phase. Released as of Tuesday of it’s fifth letter, the “D”, PVEN is primed to see some action this week after forward splitting it’s stock 50-for-1 last month. After paying a total of $5,000 for their Western Canada mining claim which was held in trust by I.J. Boga, although no activities have commenced for exploring the property other than completing a technical report, it’s looking like CEO, Wilson A. Garduque, is soon to host an ask-slapping party that must be on the watch list.
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PVEN Stock Quote
Market Cap: 41.50M
Issued and Outstanding: 415,000,000
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As of their last Q filing, for the period ended January 31, 2013, Press Ventures had a cash balance of $0 and no plans of generating any revenue for the foreseeable future. What they did have was an agreement from a year ago with Signal Exploration Inc., whereby Signal would earn 51% interest in the “Tara Property” by paying Cdn. $7,000 and incurring Cdn $20,000 in exploration expenditures by December 31, 2012.
There was no word as to whether the exploration expenditures were shouldered by Signal prior to the end of 2012, but one month after the agreement was signed, Lynda Cambly took over Press Ventures from Caroline Johnston and had been the President and sole Director until April 17. This is vital to anyone investing into PVEN since Cambly has held positions in marketing and public relations in a variety of corporate sectors during the course of her career as well as worked in management with a timber company.
The mention of “timber” and a penny stock which has just completed a 50-for-1 FS is like telling your boss how much you love your job and couldn’t survive without it. Little do they know you are right now calculating how much you could make on PVEN stock if it is a big promo this summer.
Wilson A. Garduque, a proud Pinoy and former project manager with Aboitiz Trading Ltd., is now running the program over at Press Ventures and surely “shemboting” around the office as PVEN stock prepares to be unleashed like a Manila street dog.
For the moment, PVEN is fresh and locked in its cage since the “D” comes off tomorrow and no one knows what the heck is going on with it. Without a website or any form of PR issued, its a radar lister to be watched until the sign of the first alerts are issued.
About PVEN Stock
Press Ventures, Inc. is a mining exploration stage company engaged in the acquisition and exploration of mineral properties with one claim called the “Tara Property” covering 462.22 hectares in the Omineca Mining Division of British Columbia, Canada.
Click here to view the SEC filings for PVEN.
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PVEN is so fresh, the paint has yet to dry on this 50-for-1 frward split penny stock. Who knows what could happen to PVEN stock in the coming days/weeks. It could go ride the Bull Exchange for exactly 1.2 trading sessions before getting dumped, or could be polishing up its credentials in the form of creating a website to hit the circuit and become allow the sellers to have a bid party when everyone was dressed for the ask.
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