U.S. Precious Metals, Inc. : Drilling For the Best Small-Cap Stocks This Summer, 2015
CORAL GABLES, FL / ACCESSWIRE / June 16, 2015 / The summer still has yet to take hold of the penny stock market as trading continues to build momentum during June. Though much of the attention has been placed on the biotech sector’s volatility, value investors are still watching energy, technology, and precious metals for diversification as well as safe havens. While OPEC seminar in Vienna is suggesting the rebound for oil and gas stocks, other sectors have reacted favorably with many of these “alternatives to biotech investments” finding a home amongst the highest volume penny stocks traded. Shares of US Precious Metals, Inc. (OTCQB: USPR), Warren Resources, Inc. (NASDAQ: WRES), and Axion Power International, Inc. (NASDAQ: AXPW) have all see a rise in share price over the last few weeks in the market.
Last week, US Precious Metals released an update to its drilling program in Mexico. Management stated that it had completed fifteen drill holes in its current drilling program, which is underway on its property located in Michoacan, Mexico. Mr David Burney, USPR’s geologist stated, “I am very pleased with our current drilling program. We are seeing significant zones of mineralization with Bornite, Pyrite and Chalcopyrite clearly visible. This is indicative with what we have seen from our prior drilling campaigns and we are eagerly awaiting the assay results to confirm our observations.”
Over the course of the last 2 months, shares of US Precious Metals have increased from $0.11 to highs of $0.20. During the past week, USPR has traded between $0.175-$0.195.
Tuesday morning, Warren Resources, Inc. announced that it had signed an asset purchase and sale agreement for the strategic acquisition of producing wells and leasehold interests with Escalera Resources Co. These interests were purchased at a price of $47million and according to the company, this strategic divestiture is another important step forward in continuing strategy to give Warren the ability to transact on future high growth opportunities. Since opening the month of June, shares of Warren have fallen to 52-Week lows and Tuesday marked the first day that the share price saw a positive turn around in the market. The trend in volume was above average compared to previous weeks and the stock saw an intra-day run of 16%.
Axion Power International, Inc. also saw a jolt in market activity. Since hitting lows of $0.0272 earlier in June, the stock has rallied more than 1,200% after hitting highs of $0.36 on Tuesday. Axion announced on Monday that the Company had signed a binding Letter of Intent for a technology development and licensing program with LCB International, Inc. These agreements grant LCB the right to manufacture and sell PbC batteries and other Axion products on an exclusive basis in the People’s Republic of China, Taiwan, Macao and Hong Kong. Axion would receive an aggregate of up to $10 million over a period of two years in a combination of technology license fees, the sale of convertible preferred stock and senior convertible notes, while also taking advantage of royalties for up to 15 years.
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U.S. Precious Metals, Inc. : Drilling For the Best Small-Cap Stocks This Summer, 2015
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