Nevada Gold Corp. (OTCBB:NVGC) Bought on Record Volumes
Nevada Gold Corp. (OTCBB:NVGC) is a mystery, appearing anew in September, and still without a complete profile on the OTC markets. Yet the ticker is noticed more and more, leading up to record buying on Wednesday. The ticker added more than 22% to $0.245, on buying volumes above $293,000. The active buying closely follows the conference call on Q3 earnings. 
NVGC is not being promoted right now, though it is still visible enough through its filings and the occasional PR message in the past couple of months. SmallCapVoice.com was selected in September to guide the communications for the firm. 
For now, NVGC is relatively accessible, though this is yet another ticker that holds many red flags, similar to other small caps with big mining claims. Still, NVGC claims to be mining 4K ounces of silver a day from one of its mines. Unfortunately, NVGC has an incomplete profile, and so far shows only limited financial information. But what it shows is hardly encouraging:
- Zero cash
- No reported assets
- $180,000 total liabilities
- No revenues
- $70,000 quarterly net loss
Those data are from February 2013, and in the meantime NVGC has not shown that its production, reportedly rather robust, has changed anything in the bottom line. Still, a call from Stock Aviator has helped to boost NVGC to the front line of OTD trading.
NVGC will be watched closely, as a part of another wave of mining penny stocks vying for attention. Promoters have loved precious metal miners in the past, pushing them to unsustainable prices even without any evidence of production and selling. Oil prospectors follow a similar scenario.
Recently active, First Titan Corp. (OTCBB:FTTN) rose to a peak at around $1.90, but continues to slide, below $1.20 in the past couple of days.
And among the most active pumps is DNA Precious Metals, Inc. (OTCMKTS:DNAP), heavily promoted as it is easily seen from the greater activity in the graph.
In the case of NVGC, there are still expectations on investors’ forums that the ticker may take off soon, with even greater energy. Now, the company has to face the weekend and show how robust its trend is. But despite all the promises and the relatively high interest, it is best to avoid small-cap miners, unless you can afford a deep reversal of any upward trend that cheers investors up.
