As far as penny stock companies go, the most actively traded high volume penny stock in the over the counter market today is that of Punchline Resources (OTC: PUNL). The company seems to have everything going for it at the moment. Other penny stock companies like Liberty Silver (OTC: LBSV), which is into silver mining and exploration, as well as Independence Energy (OTC: IDNG), which is an oil and gas exploration and development company, are also flourishing.
Punchline Resources has many new things to talk about. Not only has the company just seamlessly welcomed its new CEO, its has also successfully applied for a name change, acquired a new property and has secured funding to aid its exploration of the property.
Gold prices may not have been up today, but the share price of Punchline Resources has risen by more than 14% since the last trade. At $1.53 per share, Punchline is one of the premier penny stock companies and it is currently being actively traded at that price.
Punchline Resources has signed a new Mineral Lease Agreement that will enable it to explore and develop the massive Empress property in Nevada. Located in Esmeralda County, Nevada, the Empress property comprises nine unpatented mining claims. Historically speaking, the Empress Mine was probably first explored and developed in the early 1860s. The famous Gold Point district is located very close to the mine, as are other mines such as the Wonder Mine.
The company sees the addition of the Mineral Lease Agreement as an addition to its portfolio and something that the stockholders can be proud of. The Empress Mine may not have any recorded gold production data, but the nearby gold district is known for having produced more than $500 million (evaluated in 2010) worth of gold and silver. If these figures are anything to go by, great things can be expected from Empress Mine as well.
Punchline Resources has conducted the initial sample-based survey of the area and it has uncovered a couple of high-grade vein targets of precious metals such as gold and silver. In order to complete its exploration and development of the property, Punchline applied for and has received adequate funding from its line of credit facility provider. Of the total $1 million line of credit, its has received an initial funding drawdown of $200,000.
At the Helm
Formerly known as Punchline Entertainment, the company applied for a name change that was approved by FINRA. On September 7, 2012, Punchline Entertainment was rechristened Punchline Resources. The new name represents its interest in gold and silver mining and exploration. The new CEO at the helm, Mr. Ramzan Savji, has taken to his duties with panache and great things are expected of him. Investors will find that this company has shown more than 192% of gains in the last month alone, which makes it a great penny stock to invest in.