Ekaterina Zelenkova
7 Vote 0

May Afri-Can Marine Minerals Corporation (CVE:AFA), (PINK:AFCMF) Stock Draw A Price Gap?

by Ekaterina Zelenkova Oct 26, 2010
AFA_price_chart.jpgYesterday, as if being shorted Afri-Can Marine Minerals Corporation (CVE:AFA), (PINK:AFCMF) stock returned 29.41% back although the company released and filed with SEDAR its compliant with the National Instrument 43-101 report.

That report covers the company's 2010 sampling program on Afri-Can's 70%-owned Block J marine diamond concession in Namibia.

Maybe investors had no time to read the report and to analyze the share price.

The above mentioned report is prepared in accordance with the requirements of the National Instrument 43-101. As known, this instrument is used for the public disclosure of information related to mineral properties in Canada. It is a strict guideline for how public companies may disclose scientific and technical information about their mineral projects on stock exchanges supervised by the Canadian Securities Administrators.

Yesterday, Afri-Can Marine Minerals Corporation reported estimated Inferred Resource of 154,000 carats in a 1.72 square kilometres portion of the 12.4 square kilometres covered by the sampling. Though the released information is about identified, but unexplored deposits whose quality and quantity have been estimated from geologic projections, it is a step ahead in the company's development.[BANNER]

This step, as the price chart here shows, looks rather unappreciated by investors.

AFA_from_the_site.pngThe other scenario is that these days on the latest news AFA stock may form a price gap up after yesterday's heavy volume, changing the strong downward with a sharp upward move.

Afri-Can Marine Minerals Corporation is focused on the acquisition, exploration and development of major mineral properties in Namibia.

Comments (0)

Type the characters that you see in the box (5 characters).

This is a captcha-picture.