Hi all This one is a story of good old skullduggery. The chart reflects the latest news but being new to this form of trading I need perhaps your input.
The obvious volume indicates things are going to move and fast.
Hunt Gold Corporation -- Sale and Share Buyback
Company in Discussions to Sell "Molygold" Interests and Effect a Share Buyback
NEW YORK, NY, Jul 11, 2008 (MARKET WIRE via COMTEX) -- Hunt Gold Corporation (PINKSHEETS: HGLC) confirmed on July 10, 2008 that certain Investment Groups had now assumed voting control of the Company.
The Board of Directors advises its stockholders that with the assistance of these Investment Groups, the Company is in discussions to dispose of its recently acquired "Molygold" assets.
The intention is to utilize the proceeds from the sale of these "Molygold" interests to effect a share buyback of the Company's "free float" of Common Stock.
These Investment Groups whom have voting control over the Company have informed the Board, as announced on July 10, 2008, that they are also considering a limited Tender Offer to stockholders in order to acquire additional shares of the Company's Common Stock in an attempt to reduce the amount of shares in the Company's "free float."
These Investment Groups and other significant stockholders in the Company are now determined to unlock value from the Company and to eliminate the discount between the Company's stock price and its Net Asset Value per share.
The Company's Management is proceeding with its plans to file the requisite documentation with the SEC, in order to make the Company "Reporting" with the SEC, as previously announced.
Stockholders will continually be advised accordingly; as your Company's Management becomes aware of further details and developments.
ABOUT HUNT GOLD CORPORATION
Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird," "Ambassador," "Golden Eagle," "American Molygold," "Gladstone Lookout," "Lady Alde," "Lookout Silver," "Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red Cloud" and "Federal" interests.
Trade Data / Last Trade 07/11/2008 Last Sale 0.0016 Change +0.0004
% Change +33.33 Tick Down
Daily High 0.0022 Daily Low 0.0011
Opening Price 0.0013 Volume 109,006,956
52 wk. High 5.00
52 wk. Low 0.0004
Prev Close 0.0012 Dividend
Interesting ??? Your thoughts gentlemen ?