Uranium Hunter Corporation (OTCMKTS:URHN) With an Impressive Bounce

This year’s promotion for Uranium Hunter Corporation (OTCMKTS:URHN) started in March and lasted for about a month and a half. Unfortunately, the results are not that impressive. The ticker did managed to break through the $0.01 per share barrier during the first few days of touting, but it remained out of the double zero levels for an extremely short period of time.

Currently, it’s standing at $0.003 which means that even after yesterday’s 175% bounce, URHN is still a whopping 75% below the heights reached during the peak of the pump. Clearly, not what everyone wanted to see, but is the drop that surprising?

Considering the press releases issued by the company over the last few months, it is a bit baffling. There’s been no shortage of optimism coming out of URHN‘s announcements and the pumpers have done their best to spread the word around properly.

On April 21, for example, the management team said that they’re starting the financing phase of their agreement with Minas Core Mining Inc. They also announced that work should start on the Rio Petro Diamond Project withing the next 30-60 days and informed us that, according to previous studies, they should be standing on around 96 thousand carats worth of gems.

A few hours later, URHN issued another press release, this time estimating the potential revenues coming from the project. Apparently, if their explore the first one hundred hectares of extractable land, they are looking at around $5.5 million to $6 million in sales for the first year. That’s an impressive figure and David Cohen (after receiving $25 thousand) made sure that everybody knows about it.

For some reason, investors didn’t seem too keen on jumping in. Volumes remained small and the ticker continued its slide. Apparently, the people paying for the pump then decided that another outfit would do a better job.

On April 29, SixFiguresStockPicks were called in. The pumpers received $35 thousand and in exchange, they sent out a dozen emails. Once again, the effects were not that great and on April 30, touting stopped.

Without the benefit of a paid promotion, URHN is just as shaky. Four out of the five sessions between May 1 and May 7 ended in the red and although the ticker managed to bounce yesterday, about an hour after today’s opening bell, it’s sliding once more. As we mentioned already, at first glance, the drop is a bit of a mystery, but if you take the time to do some research, you’ll see that investors certainly have one or two things that they need to consider.

URHN‘s CEO, for example, Reno Calabrigo, has been involved with a fair few penny stocks in his time and his ventures haven’t been extremely successful. He is still listed as the President of Avix Technologies, Inc. (OTCMKTS:AVIX) and we reckon that their $1.7 million market cap illustrates the point perfectly.

Then we come to URHN‘s own history of failures. A year ago, they were speaking about a funding agreement with First Swiss International Group AG. In July 2013, they told us that the deal has been terminated “due to missed targets“.

This, in turn, left its mark on the latest balance sheet which shows zeros under the assets and revenues sections.

As you can see, there’s plenty of reasons to do some serious due diligence before putting any money on the line.