North Springs Resources Corp. NSRS
NSRS gapped up yesterday morning, ran out of the gate, and then pulled back before finishing the day on a strong note. Considering how much activity is running through this stock, we would not be at all surprised to see some profit taking at this juncture.
There is still some promotional backing behind this play. We are used to seeing plays with this much juice behind them enjoy several days worth of gains,but need to remain cautious as eager sellers are clouding the picture somewhat. Yesterday the stock found support at .285, however we feel that things could get a little dicey if that support level is not maintained.
On the flip side, we are hoping that NSRS fares well for at least one more day, we will be waiting to see if another strong push is in the cards for this afternoon.
There was also a press release from the company yesterday:
LAS VEGAS, NEVADA, Dec 28, 2011 (MARKETWIRE via COMTEX) — North Springs Resources Corporation (OTCBB: NSRS)(PINKSHEETS: NSRS) (the “Company” or “North Springs”) is pleased to outline the proposed exploration work program for the North Springs Gold Property located in prestigious Mineral Ridge Mining District of Nevada. The recommended $500,000 work program will focus on several untested gold targets that include disseminated mineralization, high-grade shear zones, and feeder veins similar to those that have been open-pit mined by several companies at other Mineral Ridge gold deposits in the area.