Maxwell Resources Inc. (OTC: MAXE) Explodes on the OTCBB!
Goldminer in Colfax County, New Mexico on the rise!
Ticker Symbol has changed back to MAXE from MAXEE. Currently trading at around $0.40 the price per share of MAXE has continued to drop in recent weeks as the stock promotion by the Wall Street revelator seems to have faded.
Maxwell Resources, Inc. (OTC: MAXE) started trading this September at just under $1 and rose to highs of $1.55 before dropping down to the $0.80 level where it formed an important base. Just when traders thought it was done MAXE has exploded over $1 again on increased volume and speculatoin continues on another massive promotion campagin.
The move up last month on MAXE was due to a $740,000 Hard Mailer Campaign by the Wall Street Revelator. On October 23 MAXE launched a new website: www.MaxwellRe.com.
Recently Maxwell Resources announced that it acquired certain mineral interests in Colfax County, New Mexico which includes gold, silver, iron, ore, copper and coal. In addition, the Company acquired a three year option to acquire a working interest in any oil and/or gas wells in Colfax County. The acquisition was completed in July 2012 pursuant to the terms of a Contract of Sale with Sun River Energy, Inc. As consideration for the acquisition, Maxwell paid $500,000 and issued 2,564,103 shares to the shareholders of Sun River Energy which shares are subject to a 12 month lock-up.
The US Geological Survey (USGS) has published reports which estimate 9.6 billion tons of coal-in-place in the Raton Basin. The Company has selected approximately 6000 acres for initial review. Our Calculations estimate over 51 tons of cooking Coal could be in place on 6000 of our acres. Historically 45% of coal in place is ultimately recovered, processed and sold.
Conclusion: Currently trading at a market valuation of $75 million MAXE has little assets and no revenues to date. The stock has exploded back over $1 in recent sessions as rumours abound that there is a second promotion coming on MAXE. The first of course was a $740,000 hard mailer campaign. MAXE could go higher in the short term. Long term this stock will fall significantly.
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Maxwell Resources, Inc.
SYMBOL: OTC: MAXE
Shares Outstanding 57,545,526
Market Cap: $73,658,273
According to MAXE corporate website Northern New Mexico's Raton Basin has incredible potential as a great source of coal, gold, silver and other rare minerals.The United States Geological Survey has studied the region and found its potential to be little short of phenomenal. The basin:Contains potentially $3.4 billion in coal, according to 1991 USGS estimates
Railroads in the area allow convenient transportation of the coal and minerals. Raton Basin is located in what once was the largest land grant in New Mexico history, the Maxwell Land Grant. The basin is conventionally located between Dawson and Elizabethtown, New Mexico, just about three hours north of Albuquerque and one hour north of Taos. The USGS gives this glowing report about coal in this area:"…coal from the Raton field has high heating values, is of high rank, yields a high-quality coke, and may be of greater economic importance than coal from other, larger fields. The coal is all high-volatile A to B bituminous rank."