Glemark Capital Corp.Finest Penny Stock is taunting glenmark capital corp. as a big play. What are your thoughts on this one?
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Finest Penny Stocks is being paid $75,000 to call it a “big play”, likely part of the new investor relations/communications contract Glenmark just signed last month.
Glenmark has bought rights to explore a uranium property that’s been explored before, during the 2007ish uranium bull market. In order for it to be worth $25 million (that’s where it trades now, after a big runup on the acquisition and the investor relations help), my impression is that there would have to be a new bull market in uranium that drives the very early stage explorers up in price ( (I have no specific knowledge of the project, other than the price the seller was willing to let it go for — roughly $700,000 over three years, plus $2.5 million they must spend on exploration).
With established uranium producers (or mines that are ready to be developed when prices improve) quite cheap, I wouldn’t personally be interested in spending a lot of time judging the quality of such teensy weensy early stage projects (partly because that’s not a skill I have, to be honest), but you never know, perhaps one of them will make the next big discovery like Fission did a little while ago and enjoy a big run.