Gediminas Jasionis
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Rumors Drive Red Pine Exploration Inc. (CVE:RPX) (PINK:RDEXF), Stock Doubles In Price

by Gediminas Jasionis Mar 6, 2012
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rpx_chart.pngRed Pine Exploration Inc. (CVE:RPX) (PINK:RDEXF) stock price more than doubled by the end of Monday's session with rumors as the main driving force behind the move.

The company had no official news nor the management commented on the stock action. The situation remains tense because of the contradicting factors in play. The stock moved 3.5 million shares over the last hour of trading

A few days ago, Red Pine said they will be exhibiting at the 2012 Prospectors & Developers Association of Canada International Trade Show & Investors Exchange. The exhibit has started on Sunday, March 4 and will last until March 7.

In their latest quarterly report, the company revealed to have taken somewhat 350 samples from their properties during summer and fall of 2011. Essays on these were never published and thus investors might at least hope to hear the managements opinion or learn about the preliminary findings during the exhibit.

redpine_logo.jpgThe price rush might have been initiated by someone with such a knowledge, seeing as it came running only by the end of the session. On the other hand, the result might as well be the manifestation of rumors and hopeful thinking related to the yet undisclosed essays.

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