TFER has been leading the OTCBB!
To find out the inside scoop on TFER subscribe to OTCMagic.com right now. Also everyone should know, we have something HUGE coming!
Anyone with an eye on penny stocks, especially speculative mining plays knows all about the incredible rise of Titan Iron Ore Corp. (OTC: TFER) over the past few trading sessions from a start point of under $0.40 to recent highs of $1.12 Powered by a massive stock promotion including newspaper adds one which appeared to look like a real article in the washingtonfinancialtimes.com called "stocks to watch; the birth of a billion dollar mining company"
Marked by massive dollar volume and demand for the stock many investors are predicting TFER is the next LEXG which ran from $0.10 to $11.68 several years ago. Read on…
Accroding to a recent pr TFER is focused on the acquisition and development of iron ore exploration and development mining properties located in regions that enjoy stable politics, sound economies and friendly business environments.
On October 19 TFER announced an Equity Line Financing of up to $10 Million, Along With Convertible Debentures; Under a Securities Purchase Agreement, upon Titan registering its common shares under a registration statement, the Investor will make equity financing available to the Company over a 36-month commitment, allowing the Company to sell up to $10,000,000 in value of its common shares. In addition to equity line financing, the Company is receiving bridge loans in the form of convertible debentures with gross proceeds to the Company of $200,000.
Conclusion: Currently trading at a market valuation approaching $50 million TFER has no revenues to date and continers to burn just under a million dollars per quarter. While the Company does not have much fundamentals to back it up, they are certianly not short on hype and the dollar volume and accumulation in recent trading sessions suggest TFER could go way way higher. Over the long term TfER cannot maintain current market valuations and will drop signicanlty.
Titan Iron Ore Corp. (OTC: TFER) was initially incorporated in the State of Nevada on June 5, 2007 under the name Digital Yearbook, Inc. Effective June 15, 2011, the Company completed a merger with its subsidiary, Titan Iron Ore Corp., a Nevada corporation, which was incorporated solely to effect a change in their name from “Digital Yearbook Inc.” to “Titan Iron Ore Corp.” effective becoming an exploration stage company. The Company’s principal business includes the acquisition, and exploration of mineral properties.
Promotional material from TFER websie:
- Wyoming Iron project (2 deposits) under option which was formerly owned and explored by Union Pacific RR from 1952 to late 1970’s
- Unpatented federal mining claims and leased lands on approximately 500 acres in Albany County, Wyoming
- Option in favor of Titan with purchase price of $7 million payable to vendor through advance minimum royalties and from royalties on actual production and a 1.5% gross metal value royalty payable after Titan has paid the $7 million
- 117 drillholes and over 85,000 feet of historical core drilling—holes ended in mineralization and deposit is open at depth
- Historical feasibility and metallurgical studies (non NI-43-101 or SEC Guide 7 compliant)—ore contains magnetite, ilmenite (titanium) and vanadium
- 3 year timeframe for completion of exploration, prefeasibility and bankable feasibility studies, and permitting
- Budget for first 3 years is $8.5 million and includes property payments
- Current year exploration and related work ($410,000) includes expansion of geological database, preparation of an NI 43-101 equivalent technical report, and drilling.
Latest posts by OTCMAGIC STAFF (see all)
- New Pick Coming Soon! - April 19, 2015
- Did You Know? Monster Stock Pick Coming - March 2, 2015
- Ekso Bionics Holdings, Inc. (OTC: EKSO) Penny Stock with an Eye on Bigger Things! - February 3, 2015