Trulan Resources, Inc. (PINK:TRLR) Pump Falls Flat Despite News
On Thursday morning promoters once again swarmed to tout Trulan Resources, Inc. (PINK:TRLR). It was no wonder that the pumps resumed, as the company came out with a loud and proud press release.
Trulan posted a press announcement in the early morning hours on Thursday, claiming the initial samples of their Chilean project returned a quarter of gram of gold per ton of ore. This, according to the company’s estimations, means that the gold resources in the ore bodies could have a value of around $2 billion.
Promoters Stock Psycho and Stock Mister dished out quick emails in the wake of the news release. Stock Psycho disclosed $170 thousand in compensation, received from Stock Mister, who seems to still be managing the total promotional budget of $435 thousand disclosed as received for expired campaigns.
The combination of pumps and news saw TRLR soar early Thursday but there was a huge gap up and new entrants were trapped by a slumping price after the early spike, despite the ridiculously large share volume. With no new promo emails on Friday and the price still inflated from the previous session, TRLR dropped the ball and selling pressed the stock down by nearly 30%, on volume that was much smaller.
At the end of the day, TRLR stock found itself sitting a notch below its values before the last promotional push, as it happens with most pumps. The news release tossing about estimations of billions worth of gold did nothing to help the stock move up and the addition of the pump made it more of a hiccup than a climb. It could also be that the $523 in cash and no current source of revenue that the company reported as of December do not exactly inspire confidence that it has the resources to exploit the property and mine and process millions of tons of ore.
Considering TRLR‘s promotional history and the constant decline of the stock price virtually ever since the promotions started, as well as the track record of the Stock Mister, who previously brought failing picks such as ITonis, Inc. (PINK:ITNS), traders are advised to be extra careful with this one.