{"id":4969,"date":"2014-10-23T16:14:00","date_gmt":"2014-10-23T16:14:00","guid":{"rendered":"\/?p=4969"},"modified":"2014-10-23T16:18:40","modified_gmt":"2014-10-23T16:18:40","slug":"oro-east-mining-inc-otcbboroe-wracked-by-pump-aftershocks","status":"publish","type":"post","link":"\/articles\/oro-east-mining-inc-otcbboroe-wracked-by-pump-aftershocks\/","title":{"rendered":"Oro East Mining, Inc. (OTCBB:OROE) Wracked by Pump Aftershocks"},"content":{"rendered":"\n

Yesterday the share price of Oro East Mining, Inc. (OTCBB:OROE<\/a>) logged its first double-digit green session in a long while, closing 50% up at $0.09 per share. Share volume increased even further, at over 4 million shares traded yesterday. There was no obvious trigger for the surge save for the dying aftershocks of a short pump job targeting the company.<\/p>\n

Shortly before the closing bell last Monday OROE<\/a> published its first PR in a while, announcing that a division of California’s EPA reclassified the company’s ore waste material as Group C, an environmentally friendly grading compared to its previous Group B designation. The news prompted paid promoters to issue alerts for OROE<\/a> stock, with three emails sent out. All three emails disclosed compensation of $25 thousand paid by third party Douro Capital to promote OROE<\/a>. The pumps were full of the usual pumper drivel about ‘monster runs’, ‘momentum’ and the rest of the tried and tested stock promoter staple words.<\/p>\n

OROE<\/a> obviously had so much momentum that after trading a total of zero shares on the two days leading up to the October 10 PR, it went to crash 80% within two sessions in the wake of the pump emails.<\/p>\n

The last financial report OROE<\/a> furnished for public viewing is a 10-Q covering the three months ended June 2014. The report contains the following:<\/p>\n