Out of nowhere, SILVER FALCON MINING INC (SFMI.OB) started to climb, curtailing from negative price changes to gain 6.33% on to close at $0.168 per share yesterday. Shares slipped nearly 2% in today’s early trading.
Over the last week, traded volume of SFMI has exceeded 1 million shares, which is quite an unusual value for the stock. According to the records, SILVER FALCON has not been promoted recently, though, it’s been overbought.
As the company has not released any significant news over the last month, the current price jump cannot be explained. Maybe there’s something else behind the story?
The last announcement published by SFMI dated end-July, this year, which reported the details on its shareholders’ meeting on 17 September. However, no more news on SILVER FALCON can be found.
The financial report of SILVER FALCON announces its great plans for the future and its lack of revenues. While in the meantime, the company has accumulated net losses of over $9 million along with a working capital defict of over $2 million
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