Quri Resources Breaks Out on High Volume
Quri Resources Inc. (QURI) shares moved up more than 30 percent after being featured in a penny stock newsletter, but remains a very risky play.
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Quri Resources Inc. [[QURI.PK]], a U.S. based junior mining company with gold properties in Ecuador and copper and gold properties in the United States, was featured by penny stock promoter PennyStockChaser. The firm noted an earlier asset purchase agreement with Produelec S.A. and a letter of intent to acquire The Emerald Isle Copper Project in Arizona.
Earlier this year, Quri also announced a new web site that details their properties, management team, and recent news events. The firm invited its shareholders and general public to subscribe to its newsletter to keep track of the company’s progress. The web site also contains up to date geology reports, investor relations, mining site pictures, and contact information.
Despite these positive developments, Quri has not provided any updated financial information. According to Pinksheets.com, the company is not able or willing to provide disclosure to the public companies – either to a regulatory, an exchange or Pink Sheets. As a result, this company’s securities remain highly speculative and risky for investors.
In the end, speculators have entered this stock thanks to a newsletter mention, but long-term investors should think twice before committing their capital as Quri has not provided any updated financial information and therefore remains a very risky play.
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