First Star Resources Inc V.FS

Moving Higher

[Chipshot2]

Yesterday's momentum has continued into this afternoon. Trading at $.055 now.

 

Will we continue to head higher or take a breather here?

 

Stay tuned.

 

Chipshot2

[chrisaccord]

Funny how these stocks trade. I'm in First Star at 2.5 cents and it's already at 5.5 cents ! They have almost a million dollars in debt and no projects. Trust me I'm not complaining ... just glad I held after the modest increse yesterday. I suspect a financing is coming for First Star. - On the contrary, I'm also in v.MNL (Monarch energy) at 2.5 cents & 3 cents. They have

[Chipshot2]

chrisaccord....where did you get your information that First Star is $1 mill in debt? I don't know for a fact but I believe they are debt free. You may want to check your source and get back to us on that one!!   Chipshot2

[chrisaccord]

As per First Star's last SEDAR MD & A (Sept. 30, 2011:) - Items 6 and 7. Liquidity and Capital Resources At September 30, 2011, the Company had cash and cash equivalents of $1,318 (December 31, 2010 - $921,907) and a working capital deficiency of $874,972 ...  

[Chipshot2]

Thanks chrisaccord.....Since I have no documentation it is hard to argue with your post but it is my understanding that the shell was debt free. Obviously I could be wrong.   Looks like we are taking that breather I thought might come. It has to be expected that those who got in at $.015 to $.025 would take a little profit here, especially given that the stock has moved on no news. J.MO

[JCMarlin]

I wonder what there can buy with cash equivalents of $1,318 ??? and almost a million dollars in debt me, I dont care I made my $$ and sold at 5c but this is now at 5.5c thats nuts this company has NO MONEY in the Bank to buy anything good luck guys time to run the other way and put my profit in to TDW

[Chipshot2]

JCMarlin may be correct in his assessment but he may also be making his judgement based on outdated info. I don't think they currently carry any debt at all. That may have been part of the deal in turning the properties back to Corvus.   As for where the stock goes from here? The rise in % terms has been dramatic this week and as colt has suggested we may need some actual news to keep

[colt45acp]

Chipshot in your last post third paragraph. What you are saying has a lot of merit. Waiting, sounds like sound advice. Here's hoping.