Strikepoint Gold, Inc. (CVE:SKP) Rallies Up on the New Blackraven Project

[[tagnumber 0]]Strikepoint Gold, Inc. (CVE:SKP) is rallying up along the upper Bollinger band in the last two weeks while yesterday the market reached consolidation. The company has not announced any progress on its exploration projects, yet technically the stock could break further up.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 3]][[tagnumber 1]] [[tagnumber 0]]SKP closed the last trading session at $0.065 while the trading volume was half the average, and thus too small even for that illiquid stock. Yet, as the share price has nearly doubled more traders could get attracted and also any short covering could cause additional upward pressure on SKP this week.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]Last month, SKP filed its quarter report for the first three months of this year. According to the report, the company continues incurring exploration costs on its projects, yet no discoveries have been reported yet. There are currently three options to acquire mineral properties upon which SKP has to make cash payments and issue shares of its common stock, which means shareholders will be additionally diluted and loose value on their investment.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]For the first three months of this year, 1,200,000 new shares were issued pursuant to the Blackraven and Lob[[tagnumber 1]] [[tagnumber 0]]stick option agreements. Current market cap is under $10 million, yet if dilution continues at the same pace it could go even lower.[[tagnumber 1]] [[tagnumber 17]][[tagnumber 18]][[tagnumber 1]] [[tagnumber 17]] [[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 17]]The Blackraven Property is the latest project of the company the agreement for which was signed in February this year. There should be news on the progress of the exploration works soon, otherwise the stock could slump sharply to the $0.03 levels.[[tagnumber 1]] [[tagnumber 17]] [[tagnumber 1]]