Diamante Minerals Inc (OTCMKTS:DIMN) Surges Out Of Nowhere
The last time we wrote about Diamante Minerals Inc (OTCMKTS:DIMN) was way back over a year ago when the ticker had been recovering from a massive slide. The company stock was able to regain a lot of the lost value and reached prices above the $2 per share mark on increased volumes, despite the lack of press releases or news.
Things have changed a lot since then. It’s not like DIMN have started issuing press releases, but rather the fact that the company stock has lost nearly 90% of its value, while trading has become very quiet. Meanwhile, things haven’t progressed a lot since the last time we covered the company stock. In fact, the report for the quarterly period ended January 31, 2016 shows just the opposite.
- cash: $515 thousand
- current assets: $665 thousand
- current liabilities: $332 thousand
- revenues: ZERO
- net loss: $73 thousand
These numbers certainly show that DIMN isn’t able to back up even its current market cap which sits at a little less than $15 million. There is still a certain lack of press releases and news, while DIMN seems to be content with filing only the occasional reports with the SEC.
Still, the company stock somehow managed to push 12% up the charts in Friday’s session and close at $0.28. A total of 368 thousand shares changed their owners, generating $97 thousand in daily dollar volume, the biggest in more than six months of trading.
Unfortunately, there is a sudden loss of interest in DIMN, as shown by today’s lack of trades. In any case, DIMN is a risky and illiquid stock that should be approached only after you have done your due diligence.
