Ekaterina Zelenkova
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Continental Minerals Corp. (CVE:KMK), (OTC:KMKCF) Stock Rushed By Acquisition News

by Ekaterina Zelenkova Sep 21, 2010
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KMK_price_chart.jpgSince Friday and up to this October, Continental Minerals Corp. (CVE:KMK), (OTC:KMKCF) stock will be in sight of investors due to the latest information about the potential sale of the company to a China-based mining group.

On the news, the traded on both the Canadian and the American market stock surged immediately, responding to investors' high appreciation of the future deal and of the further development of the company.

Last Wednesday, KMK made its first announcement related to the advanced discussions with a third party regarding the potential sale of the company.

On Friday, investors were supplied with details about the company's binding letter of intent to be acquired by Jinchuan Group Ltd.

Though management anticipation that the discussions with Jinchuan Group Ltd will be resolved soon, there can be no assurances of their outcome. Still, KMK stock exploded.

On the SX Venture Exchange (CVE), KMK closed the week with a 12.17% share price increase on a volume exceeding twenty times the average for the stock.[BANNER]

On the American market, the news about the acquisition could also shake up KMKCF stock. On Friday, despite the proposed high at $2.58 per share, KMKCF closed with the slight 0.34% decline from the previous day on a colossal eleven times the average volume.

KMK_from_the_site.pngDuring yesterday's session, on the American OTC market KMKCF advanced the lost 0.34% on a heavy volume, while on the CVE, KMK shares pulled 0.39% back, being in a technical correction after the hot end of the last week.

It looks like from now up to October, the period in which the company plans to distribute an information circular containing the details about the above mentioned transaction, the shares of Continental Minerals Corp. will be strongly demanded.

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