Focus Graphite Inc (OTCMKTS:FCSMF) stock has almost breached a new 52-week high today as it ended the day up 2.62% on above average volume. The share price has surged over 200% since the end of February and continues to pick up pace. If the stock is able to reach its 52-week high, it would gain 66% from current levels.
Focus is a graphite mining and exploration company and is the owner of Lac Knife, the highest grade (16% and large natural flake graphite deposit in the world! Nothing typically goes straight up. It would be healthy to see some consolidation at these levels before taking out its prior highs. FCSMF has formed a nice long base before breaking out on significant volumes. Today, over 346,000 shares traded hands providing a significant boost in the stocks liquidity.
FCSMF just recently announced that it had closed its first tranche of its private placement offering. The company raised gross proceeds of over $2,000,000 which is a significant boost in confidence by outside investors who have bought into the FCSMF strategy and story. FCSMF issues over 5.8 million shares at a price of $0.35 per share. There are warrants with the issuance executable at a price of $0.55 which expire March 17, 2017. I would not be surprised if shares were “boosted” to the $0.55 at some point in the future. More good news is the company expects to close a second tranche shortly given strong interest in the first.
FCSMF is nearing the development stage and has ambitions to move into the technology graphite industry. The company remains the cornerstone to a global technology platform with other companies including Grafoid Inc., Stria Lithium Inc., and Braille Battery Inc.
Focus remains the keystone to a global technology business platform with graphene applications developer Grafoid Inc., technology-focused Stria Lithium Inc. and Braille Battery Inc.
According to the CEO of the company “A high purity deposit affords us the advantages of being able to project very competitive operating costs with the potential to further mitigate our manufacturing costs for value-added, highly refined technology graphite.”
We have a Monster Pick Coming. Subscribe Right Now!
FCSMF is currently trading at a $50.87 million market valuation. It is laser focused on moving into a very profitability industry of technology graphite. It has developed key partnerships with application developers and as the commodity bull begins to wake up after a long downturn, FCSMF may be just starting its rally. Stay tuned for more updates.
We will be updating on FCSMF when more details emerge so make sure you are subscribed to Microcapspot so you know what’s going on with FCSMF.
Disclosure: we hold no position in FCSMF either long or short and we have not been compensated for this article.