These days, the focused on growth Electra Gold Ltd. (
CVE:ELT,
ELT message board), (PINK:ELCGF) finally succeeded to grant investors the joy of its stock growth.
Thestory of company and stock growth started officially last Thursday,when Electra Gold Ltd. released elevated gold values for the Apex Zoneon the DOT-Apex claim group.
This spring, the company announcedthe option to acquire a 100% interest in the gold Apex-Dot Property,located in the area of northwest Boston Bar, British Columbia.
Itwas acquired from the arm's length party D.G. Cardinal for cashpayments of $16K, issued in installments 500,000 shares and $300K inexpenditures that have to be made on the property over a five-yearperiod of time.
Maybe due to the common practice of thecompany to make deals with close related parities, one day before theabove mentioned press release about the elevated gold values investors,being no close related parties, run to bank gains on the company'sstock. Apparently, they had the confidence in the company's future andignored the risks related to its business partners.
Last Wednesday, the big ELT running up started with the modest 16.67% share price soar on a modest trading volume.
On Friday, ELT stock made a huge pricegap on a heavy volume, gaining 75% between sessions. On the same day,the company announced its next growth step with the acquired 4,500hectares of ground close to Eagle Plains Resources Ltd. Yesterday, thelast update of Electra Gold Ltd. came out and it was related to thenext acquisition of additional hectares of ground in 11 claims near theIron Range Gold Property.
Investors' reaction did not come with adelay this time. ELT stock rose proportionally to the additionallyreleased claims option with almost 29%.
The final calculations of ELT stockgrowth shows that on the released by the company elevated gold andproperties' values investors were able to bank a 157% gain in fourtrading sessions.
On the other side of this brilliantinvestment opportunity stays all the time the reported by the company inits last financials information that ELT operations are exposed to thefinancial and operating risks of the company's business partners.
Since ELT is in the process of miningthe Apple Bay mineral properties in British Columbia, 61% of thecompany's entire mineral production in 2009 was sold to one customer.Further more, ELT reports that 32% of the cost of sales were performedby a private company owned by a shareholder of the company. And anotherprivate company owned by a shareholder of the company performed 16% ofthe cost of sales.
https://ca.hotstocked.com/article/3442/electra-gold-ltd-cve-elt-pink-elcgf-stock.html