{"id":3164,"date":"2013-11-13T11:11:32","date_gmt":"2013-11-13T11:11:32","guid":{"rendered":"\/?p=3164"},"modified":"2013-11-13T11:11:45","modified_gmt":"2013-11-13T11:11:45","slug":"el-capitan-precious-metals-inc-otcbbecpn-shooting-up-on-positive-pr","status":"publish","type":"post","link":"\/articles\/el-capitan-precious-metals-inc-otcbbecpn-shooting-up-on-positive-pr\/","title":{"rendered":"El Capitan Precious Metals, Inc. (OTCBB:ECPN) Shooting Up on Positive PR"},"content":{"rendered":"

\"ECPN.png\"It has taken an awful lot of time for El Capitan Precious Metals, Inc. (OTCBB:ECPN<\/a>) to get to where they are today. According to the company history page on their website, El Capitan Precious Metals was established back in 1996. Since 2011, they have been a publicly traded company, but because of the lack of revenues and the millions of dollars spent without any actual results, the share price has been digging a hole in the ground throughout the last couple of years. Now, though, it seems that they are finally on to something. <\/p>\n

Last Thursday, they announced that they have completed the sale of a recovered dore bar that is determined to contain 1.04 ounces of gold per ton. The press release doesn’t mention how much proceeds ECPN<\/a> is about to receive from the transaction, but that doesn’t seem to be all that important. <\/p>\n

Unlike other mineral exploration penny stocks that want to dig out precious metals from properties that supposedly have prolific reserves, ECPN<\/a> have set themselves the task of exploring the El Capitan project, proving that it does indeed contain gold, and then selling it to a large mining company, thus making some money and raising the shareholders’ value. The announcement from November 7 should serve as proof that ECPN<\/a>‘s properties are worth digging into and should draw the attention of some of the larger mining enterprises.<\/p>\n

Predictably, the news also drew the attention of investors. Four consecutive green sessions pushed the price up from $0.24 per share, all the way to $0.39. Trading volumes increased as well – nearly 1.3 million shares changed hands yesterday pushing the trade value up to $498 thousand.<\/p>\n

Unfortunately, this brings something of a problem. As we mentioned, ECPN<\/a> have invested quite a lot of money into drilling, examining, and researching the reserves of their properties. Not surprisingly, this has led to some financial difficulties. The latest 10-Q covering the second quarter of 2013 reveals the magnitude of the situation:<\/p>\n