Archive for the ‘Prom Resources PRMO’ Category

Prom Resources, Inc. (PRMO.PK) Continues Bullish Run as it Reaches $0.014 Monday Morning

Monday, November 26th, 2007

Shares of PRMO.PK continued reaching for higher prices today. Earlier this morning, share prices reached $0.014, a 65% increase above yesterday’s closing price. In the past five trading days, the stock has risen 366%.

In recent news, the company announced that it has completed a preliminary economic assessment and will resume shipping gold bearing ore at the rate of 50 kilos per week, 1607.5 troy ounces.

Dror Moradov, President of Prom Resources, Inc, stated in the press release, “Standard Bank metals analyst Walter De Wet has been bullish on Gold, as are other analysts in the community who have call for an $800.00 price on Gold. We are pleased at the continued increase in gold prices, and expect that the increases in estimated proceeds from sales of material will further finance future operations, shipments and working capital.”

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Prom Resources, Inc. (PRMO.PK) Continues Bullish Trend as the Stock Increases 58.82% Monday Morning

Monday, November 5th, 2007

PRMO.PK continued its run from last week by increasing an additional 58.82% today. In the past six trading days, the stock went from $0.01 to $0.027, which is a 170% increase.

Prom Resources has been mentioned a number of stock newsletters recently including Wall Street Savant, HotOTC.com, Inside Move, OTC Picks, Stock Stars, StockEgg, and Shazam Stocks. In most recent news, the company announced that it will resume shipments of gold brearing ore at a rate of 50 kilos per week.

Dror Moradov, President of Prom Resources, stated, “Standard Bank metals analyst Walter De Wet has been bullish on Gold, as are other analysts in the community who have call for an $800.00 price on Gold. We are pleased at the continued increase in gold prices, and expect that the increases in estimated proceeds from sales of material will further finance future operations, shipments and working capital.”

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Prom Resources, Inc. (PRMO.PK) Shares Continue Uptrend as Prices Increase 24% Monday Afternoon

Monday, October 22nd, 2007

 

PRMO.PK shares began this week with a large 24% increase in price. Today’s price action is a continuation from an uptrend begun last week after the stock formed a solid base at $0.014. Currently, the stock is trading at a 121% higher price from the base created.

Prom Resources is focused on exploring and extracting gold ore, corundum, and beryl material from eight different mining and exploration perimeters in Madagascar. The company’s 80 Perimeters in the area of Ambohilovolovo have potential for significant gold prospects.

Prom Resources’ Chief mining engineering consultant has initiated the evaluation of the property and is planning to begin a Feasibility Study and program. Madagascar’s mining industry is currently underdeveloped and contains plenty of opportunity for Prom Resources to increase its assets and revenues.

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Prom Resources, Inc. (PRMO.PK) Shares Bounce 20% after Bullish Candle Formation

Wednesday, October 17th, 2007

Prom Resources rebounded today after yesterday’s inverted hammer finished the day’s trading. The inverted hammer is a candle known for signaling bullish reversal patters. According to StockChart.com’s definition, “Inverted Hammers represent a potential trend reversal or support levels.”

In a recent press release, the company stated that it will resume shipping gold bearing ore at the rate of 50 kilos per week (one kilo is equivalent to 32.15 troy ounces). Just yesterday, the price of gold reached a record breaking high that hasn’t been attained for approximately 3 decades.

The President of Prom Resources, Dror Moradov, stated, “We are pleased at the continued increase in gold prices, and expect that the increases in estimated proceeds from sales of material will further finance future operations, shipments and working capital.”

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Prom Resources, Inc. (PRMO.PK) Riding the Gold Elevator

Friday, October 5th, 2007

Gold prices like to move in the opposite direction of the ecomony, which is not what most people would think as gold is the standard backing the monetary system. Durning the recent housing and credit market crunch, the economy has been on a rollercoaster ride while we have watched the markets move up and down in a generally positive position, but the economic numbers have forced the Federal Reserve to cut interest rates. Analysts have proposed that the value of gold could reach over $800 dollars in the near future.

This prediction by analysts has caused Prom Resources Inc. (Pink Sheets: PRMO.PK) to resume shipments of gold bearing ore at the rate of 50 kilos per week. Although the normal prices are based on a Troy ounce, one Kilo is worth approximately 32.15 troy ounces. By resuming the shipment of gold, Prom Resources has a distinct advantage to capitalize on the projected uptrend in the value of gold. The shipment would result in greater revenues and an increase in the bottom line, which would have intrinsic value on the stock price. If the price of gold continues its rise to $800, look for the price of Prom Resources to follow suit.

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Prom Resources, Inc. (PRMO.PK) – The Nation of Madagascar has Great Potential to Hold Significant Resources

Friday, October 5th, 2007

Prom Resources is currently focused on exploring and extracting gold ore, corundum, and beryl material from eight different mining and exploration perimeters located in Madagascar. The nation’s mining industry is currently underdeveloped and contains plenty of opportunity for Prom Resources.

The company’s Chief geologist, Mr. Ravony Manantsoa, recently joined the company in its efforts to explore and extract resources from Madagascar. His job responsibilities include evaluating the company’s 192 perimeters in the Toliara and Antananarivo provinces and to determine the potential of additional perimeters the company wishes to acquire.

In an earlier press release the CEO commented on his desire to increase the company’s value and future outlook. He stated, “We intend to increase our asset base and widen it into other substances and for that we are assembling a dynamic team.”

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Prom Resources, Inc. (PRMO.PK) Completes Economic Assessment

Wednesday, October 3rd, 2007

Prom Resources announced this morning that it will recommence shipments of gold bearing ore at the rate of 50 kilos per week (1,607.50 troy ounces).

Dror Moradov, President of Prom Resources, stated, “Standard Bank metals analyst Walter De Wet has been bullish on Gold, as are other analysts in the community who have call for an $800.00 price on Gold. We are pleased at the continued increase in gold prices, and expect that the increases in estimated proceeds from sales of material will further finance future operations, shipments and working capital.”

Let us hear your thoughts: Prom Resources Message Board

Prom Resources, Inc. (PRMO.PK) Continues Steady Uptrend to Higher Prices

Tuesday, October 2nd, 2007

Prom Resources’ stock is currently up 51.5% from Tuesday’s close last week, and has showed continued strength during today’s trading session. Recently the company announced a new office location in Madagascar. The new location will give management efficient access to mine site locations and the ability to rapidly transfer mine site shipments overseas.

Madagascar is known as the world’s major source of sapphire and is estimated to contain more than 50% of the world’s supply. The nation also has a history of steady gold production, but has remained mostly unexploited by big scale mechanical mining.

The President of Prom Resources, Dror Moradov, stated in the press release, “Our Company has been operating in Madagascar for 10 years now and continues to be amazed by the continuing potential and possibilities of this true Treasure Island. Having an office located in the Capital Antananarivo gives us both prominence and the ability to effectively manage our shipping of resources overseas for further processing.”

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Prom Resources, Inc. (PRMO.PK) is One to Watch

Tuesday, October 2nd, 2007

Prom Resources, Inc. has solid operational and management expertise with the financial capability to build on its existing asset base. The company is currently engaged in the active exploration and extraction of gold ore, corundum, and beryl material at eight different mining and exploration perimeters located in Madagascar.

The company’s 80 Gold/Ore Perimeters located in the area of Ambohilovolovo have potential for significant gold prospects. Much of the work completed to date has been focused on Gold/Ore Grab samples and assays. Mr. Gino Rasamison, the Chief mining engineering consultant, has begun to evaluate the property and is planning to begin a Feasibility Study and program.

Prom Resources’ acquired land holdings within the Ankavandra property also have potential for significant gold prospects. The company currently holds approximately 48 Gold/Ore Perimeters of permits and plans to initiate an exploration and sampling program in the second quarter of 2008.

Prom Resources also secured 64 Corundum perimeters in the Toliara province located within Ilaka-Sakaraha, which is well known for alluvial corundum. The company allows local villagers to hand cob the perimeters, and then purchases the material from them at an expectable cost.

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