Silver Bull Resources Inc (OTCMKTS:SVBL) On The Rise
The stock of Silver Bull Resources Inc (OTCMKTS:SVBL) has been doing pretty well since the beginning of the year. It has managed to climb the charts and gain a total of more than 300% in value since the end of January.
By now the market cap of SVBL has jumped above the $20 million mark, but the company itself isn’t doing that great. A quick look at the numbers of prime interest contained in the company’s report for the quarterly period ended April 30 reveals some pretty mediocre results.
- cash: $407 thousand
- current assets: $635 thousand
- current liabilities: $435 thousand
- revenues: ZERO
- net loss: $313 thousand
Those numbers aren’t looking great, especially when you compare them to the latest fiscal year report. In the end of the fiscal 2015 SVBL had two times more in cash-on-hand and current assets, while the current liabilities were slightly lower. Meanwhile, the company is still unable to generate any revenues.
Despite all this, however, SVBL issued an optimistic press release in Monday that seems to be paying off. The PR was concerning a third tranche of a previously announced private placement and managed to push the ticker 6.26% in the following day and another 15.50% in yesterday’s session.
SVBL seems to have lost its momentum today, so you should be sure to do your due diligence and weigh out the risks before putting any money on the line.