All Grade Mining (OTC: HYII) declined 3.6% on a second consecutive day to a share price of $0.53. The stock opened with its intraday high price of $0.55 and had no share price change until 12 PM, when All Grade Mining started dropping steeply. By 1:30 PM, the stock hit its intraday low price of $0.48.
Before today’s trading session ends, All Grade Mining eventually climbed back to a share price of $0.53.
All Grade Mining has been falling onto investor’s radars as one of the more active small cap stocks at over-the-counter market. The stock, however, has not been performing satisfactorily this month, and has been affected with a 31.2% loss in share price since May 16th.
All Grade Mining has been making headlines regarding its recent acquisition in Chile:
- June 13th, 2012: All Grade Mining announced that the company has entered an agreement with Foreign Commerce Consultative Services to facilitate the permitting process for its Salitrosa iron property located in Chile in addition to executing all of its mining operations.
- June 11th, 2012: All Grade Mining announced that the company has completed its acquisition of the copper mining project, Jose del Transito, in Chile. The project has been in production of copper since January 2012.
- June 8th, 2012: All Grade Mining released its Form 8-K to the public announcing its entry into a material definitive agreement to acquire the Jose del Transito copper mine in Chile.
- May 30th, 2012: All Grade Mining announced that the company has signed a Letter of Intent (LOI) to acquire a second iron ore mining project located adjacent to the company’s Salitrosa Project in Chile.
- May 24th, 2012: As drivers for company growth, All Grade Mining cited a forecasted global increase in demand for iron ore in the developing world and favorable mining regulations in Chile where its current and prospective properties are located.
All Grade Mining, formerly Hybred International, is a development-stage company.
On January 31, 2008, the company entered into a merger agreement with Hybred International, Inc., which is a New Jersey corporation. The agreement stipulated that the companies would merge and the surviving entity would be Temporary Time Capital Corp., Inc. The new Hybred International, Inc. has acquired the business operations of the former Hybred International, Inc., which consists of research and development and resultant intellectual property necessary to manufacture the therapeutic horseshoe.
The company focuses on developing the Hybred Horseshoe, which is an aluminum horseshoe with a bonded urethane composition. It has an agreement with horseshoe manufacturer Thoro’bred, Inc., to produce the aluminum shoe, and to assist the company in marketing, including the Hybred Horseshoe in its catalogues and brochures. The company, with a focus to market its products in Asia and Australia, is also working with various suppliers of custom molded rubber products.