Goff Corp (OTC:GOFF) Getting Complacent
It has been a month since the pump of Goff Corp (OTC:GOFF) started. The company have been spewing out optimistic press releases almost every day, but they are getting complacent with the claims they make.
Yesterday morning, GOFF issued another update about their supposed drilling program on the La Frontera project in Colombia. Even if we don’t pay any attention to the fact that GOFF doesn’t have the money to do any drilling, there are a couple of other details that don’t make much sense.
The first time GOFF started talking about the program was on Mar. 25. Back then they said it would begin in 90 days. It’s been 25 days already, yet yesterday President and CEO, Warwick Calasse said: “We planned to begin… within 90 days.”
The whole release was focused on the idea that GOFF intend to double the size of the drilling program to 10,000 meters, but the budget remains the same – $1.6 million. Doubling the size of a drilling program doesn’t double the budget, but it should have some bearing on the costs.
Perhaps, because of those inconsistencies, or maybe because people are getting tired of waiting for the fabled short squeeze, yesterday GOFF closed down 8.72% at $0.2711 per share, on 7.2 million shares. Awesome Penny Stocks (APS) called it “another huge day of accumulation.”
Still, for those who bought in the first week of April, it was another day they were looking at losses around 50%. It will be interesting to see if APS can give GOFF another pump spike before it’s done.