JNR Resources Inc JNRRF

Share price being held back?

[yourstruly00]

The share price shows how people view this company, there is no one holding the s/p of JNN.

In my opinion, there are two main reasons holding (or supporting) the s/p at this level.

1.    JNN is a highly speculative stock. Exploration in Athabasca Basin area in the last couple of years did not find any significant discoveries like HAT or UEX did.

2.    Not much cash in hand (4 to 5 mils? Will need more dilutions of shares very soon). 2008 year end private placement of 6.75 million shares for $1.35 million at a price of $0.20 per share. The hold period of shares expired April 24, 2009. Some people cashing in with 50% profits in 5 months.

Is it a good bet on JNN at this level? I don’t know. I am a gambler. It is one of my large bet on stocks. (In my situation, still holding 0.3 million shares).

JNN will either make me couples of millions or all money I bet on it goes down to the drain. I believe, we will know in two years time.