At the time of this post Jiminex (TSXV:JIM) has traded slightly more than 750,000 shares and so far has seen a rise of 30% in share value. I expect this could fluctuate somewhat today as one of the earlier companies that was involved in a financing tends to sell into this type of news. Normally that would be of great concern, but in this case it is to be expected. The company which did this financing has become known by a few different names, among which include Joe Dwek/Mineralfields/Consolidated International Investment Holdings Inc. The business model they adopt is to finance small juniors that do not have easy access to funds and once they see a certain percentage of increase in shareprice they will start to unload as many shares as they can. This usually continues until they have successfully exited their position. In the case of JIM they do not hold enough stock to hold the price back for long.
Considering what JIM may have found at their Misehkow River property, and also considering that there are just over 39 million shares, this could turn into quite the story going forward. I find the fact that visual gold in the cores is exciting and coming from this region could hold some great potential. Obviously the largest rise in share price will come when the assays are returned, depending on the actual grade, but I would expect they could quite possibly be very good.
As always do your due diligence before investing in any stock. For disclosure purposes I have received no compensation of any kind for this post. I own shares in this company and have added to my position today.
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