It’s a small story that nobody is paying attention to, but little Trans-Atlantic Mining (TCO.V), which Equity.Guru highlighted in a podcast just a week or two back, launched hard upwards today on the sort of buying levels that wouldn’t normally bring more than a nudge to most tickers.
The stock jumped like a Kardashian spotting a camera, raging from $0.03 to $0.075 in Thursday trading.
TCO has no resource estimate and isn’t doing the high profile promotion thing, and isn’t looking to raise quintillions of dollars. Long story short, it’s just going to plunge in where it knows gold to be, haul out enough to make some money, and build out from there, or at least that’s the plan.
I know of one high profile analyst who has been gobbling up any cheap paper on the markets for some time now, having talked to management and decided the thing is undervalued. After today, maybe not so much on the undervalued front. He tells me he tried to grab more at $0.075 but nothing was on offer, indicating the thing is a lot tighter held than you might think.
I’ve stayed away from the stock to this point, wanting to see just one piece of news emerge that shows me the plans are real, but the risk in doing that is you miss out on that sweet sweet cheap paper that Analyst McAnalystface is now rolling around in.
If any regular readers hoped aboard after hearing out podcast ,which laid out the entire business strategy clearly and unapologetically, congrats on your double.
Obviously, when talking about a non-liquid stock, it would only take someone selling enough shares to pay for coffee to move it back down again, and the share structure isn’t exactly tight, with 114m shares out.
But that doesn’t necessarily tell the story of how many shares are available to the public, and a 114.2% stock increase is nothing to sneeze at in any situation.
Wanna know more about the story?
PODCAST WITH THE CEO RIGHT HERE.
–Chris Parry
http://www.twitter.com/chrisparry