Gediminas Jasionis
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Mexivada Mining Corp. (CVE:MNV) (PINK:MXVDF) Relies on Promoter to Spread News

by Gediminas Jasionis Oct 7, 2011
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5mnv_chart.pngMexivada Mining Corp. (CVE:MNV) (PINK:MXVDF) got their stock promoted in an ongoing campaign to strengthen the effect of the most recent news release.

Mexivada announced on October 6 the company has discovered several mineralization zones on the Golden Porcupine property in Ontario. The intercepts were found in four NQ core holes which were made under the ongoing 5 thousand meter drilling program. Logging, sampling, and interpretations of these holes are yet to be done.

An extract of the original report was republished by MiningProfessor.com in a newsletter published to their subscribers. The newsletter is part of an outstanding agreement between Mexivada and the promoter. The company has paid a compensation of 750 thousand options exercisable at 12 cents per share for the efforts of Mining Professor.

3mexivada_logo.jpgThe last time MNV was above the 12 cents per share limit was in April 2011. The stock has lost roughly 44% ever since and remains on a steady downtrend. The last similar promotion generated a mild increase in share price on September 20, 2011, but the stock has lost over 12% since.

The recent news isn't likely to cause a serious buying wave. The company only indicated to have found mineralization zones. Specific mineralization levels of nickel, copper, platinum gold and silver are yet to be determined and could prove insignificant.

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