El Capitan Precious Metals, Inc. (OTCMKTS:ECPN) Climbing Higher

[[tagnumber 0]][[tagnumber 1]]The last time we wrote about El Capitan Precious Metals, Inc. (OTCMKTS:ECPN) was way back in 2013. Back then the company was struggling, but the stock still managed to keep a level above the 10 cent per share mark.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Things have gone badly since then and we see that [[tagnumber 6]]ECPN[[tagnumber 7]] records quite a lot of sessions in the red. This is not such a big surprise, however, especially when you take into consideration the financial state of the company. Here are just some of the numbers of prime interest from the quarter ended June 30.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $8 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $180 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $1.65 million[[tagnumber 13]] [[tagnumber 12]]revenues: ZERO[[tagnumber 13]] [[tagnumber 12]]net loss: $496 thousand[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those numbers definitely look quite terrible. Meanwhile, the company has a market cap of over $17.7 million, which surely doesn’t reflect the figures contained in its financial reports. Still, that didn’t stop [[tagnumber 6]]ECPN[[tagnumber 7]] from going on an upward run lately.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The excitement was prompted by a press release issued on November 19 that announced a long–term agreement for sale of iron ore. That is certainly good news, but [[tagnumber 6]]ECPN[[tagnumber 7]] has been talking about generating revenues for quite some time and has failed to deliver on its promises so far.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]That, however, didn’t stop the ticker from climbing another 8.58% yesterday and closing at $0.062. We also saw some increased trading. The 1.41 million traded shares were nearly four times the company’s 30–day average, but at that price generated only $91 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After a bit of hesitation we see [[tagnumber 6]]ECPN[[tagnumber 7]] climbing the charts in today’s session as well. Still, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]