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Adex Mining Inc V.ADE

Alternate Symbol(s):  ADXDF

Adex Mining Inc. is a Canadian junior mining company. The Company is focused on developing its flagship Mount Pleasant Mine Property, a multi-metal project that is host to promising tungsten-molybdenum and tin-indium-zinc mineralization. The Company holds 100% of the subsurface mineral rights to approximately 1,600 hectares encompassing the Mount Pleasant mine area of New Brunswick, Canada approximately 60 km south of Fredericton approximately 100 km northwest of deep seaport facilities located at Saint John. The Company, through its subsidiary, Adex Minerals Corp., holds claims under Prospecting License 14338. Within the mineral rights area, the Company owns approximately 405 hectares of land. Also, within the mineral rights area there are two distinct poly-metallic mineral deposits, the Fire Tower Zone (FTZ) and the North Zone (NZ). The principal metals include tungsten and molybdenum in the FTZ and tin, indium and zinc in the NZ.


TSXV:ADE - Post by User

Bullboard Posts
Comment by 123con Apr 04, 2018 9:15am
120 Views
Post# 27827023

RE:RE:RE:RE:Tin Time

RE:RE:RE:RE:Tin Time

In this case  it looks like the pump was buying significant amounts at above normal trading to draw interest. There are people like me who bought significant quantities @ .01 in the rights offering in 2015 who would jump at the chance to double their money on those shares ( I missed the chance - I cling to faint hope of really cashing in one day.).  There was also a lot of unfounded optimism on this board at that time, and you may be surprised to notice how the sentiment here affects the stock price.   (At times I hesitate to point out the irrational exuberance often expressed because I know the truth affects the prices.  On the other hand, I wouldn't want to see people buying on misinformation and getting burned.)  There is a small pool of shares held outside of the board -  I estimate less than 60 million (GH own 88 %, Burton has a significant holding & likely exercised his rights in 2015, and I believe Tai had a significant holding from the time of the GH purchase leaving well under 10% to non-board shareholders)   - The trading occurs in this small pool outside of the board or there would be insider trading notifications.   I suspect there are a few sitting on relatively large pieces of this that watch for opportunities to get out at times like the January flurry of activity or figure they can wait it out till management does something, otherwise it is a small pool of shares that is easily affected by unusual activity and speculative chatter.  Many penny stocks are subject to this. The flurry of activity makes people believe the stock is ready to move, so generates demand and the stock goes higher and the original buyer dumps his purchase.   With stocks trading at .01, any price change is a 50% gain or loss, so if the person/people involved bought say 2 million shares @ .01 ($20,000) and sold at .015 or .02 they walk away with $ 30,000 or $ 40,000 in a week or 2 for a 50-100% profit.   This is illegal if the trader is involved in providing misleading information, but might be hard to prove because as I understand it you would have to prove the intent to manipulate the market.  I have read cases that were prosecuted because of traders buying, posting to bullboards and selling on the rise.   I also wonder if there are safeguards to prevent it and if they would pick it up at this scale.   Even 13 million shares of this at .02 is hardly a noticeable amount of money in the big picture of the TSX & TSX.V.  Be aware that penny stocks are extremely susceptible to manipulation.


Bullboard Posts