In this report: Colorado Goldfields Inc. (PINK:CGFIA), Tytan Holdings (PINK:TYTN) and Grid Petroleum Corp. (PINK:GRPR).
Colorado Goldfields Inc. (CGFIA.PK) has traded more than 363 million shares in volume today after the company announced that it has launched an aggressive exploration project to determine the potential value of its 63 uranium claims. The 63 claims are made up of 55 claims on its Pay Day claim and 8 on its Rage claims. The company announced that preliminary geological reports as well as information from the Atomic Energy Commission the seller of the properties extrapolated a resource estimte of 45,000 tons of uranium bearing ore. Based on the spot market price of $57.50 per pound on May 30th 2011 the total estimated value of uranium at its claims total $13,972,500.
Tytan Holdings (TYTN.PK) is trading more than 13 percent lower today after the company announced that several different shipments of equipment that where built in China for Tytan will be arriving in the next two weeks. Included in the shipments are the company’s new 406 Crawler, the new 604 Tractor and new 334’s which have been a best seller for Tytan in the pst. The company’s CEO Mark Leonard stated that he stands “”behind the 604, too, and challenge anyone to compare the quality and workmanship to any other tractor on the market today.”
Grid Petroleum Corp. (GRPR.PK) is trading more than 33 percent lower today. The company announced yesterday the development of the Kreyenhagen Trend acreage is continuing its progress through its Joint Venture Partner and Australian Stock Exchange Listed Solimar Energy Limited. The company said that it ‘anticipates an initial technical study and drill site selection will begin as early as October this year.’
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