Pan American Goldfields Ltd (OTCMKTS:MXOM) Ready to Gain 500% to 1,000%

Pan American Goldfields Ltd (OTCMKTS:MXOM) has been steadily rising since the end of February. The stock ended the day with 100% in gains and has advanced over 200% since February. In addition, volume has been steadily climbing which is bullish if it can maintain these gains. MXOM has advanced on heavy volume with over 1.17 million shares trading hands today which is almost 10 times its average daily volume of 0.096 million shares.

In recent developments, Pan American Goldfields Ltd (OTCMKTS:MXOM) has not made any announcement regarding developments or released any financial statements or filings to the SEC since 2013. Management has been extraordinarily quiet since a court ruling mid-July 2014. The Court ruling to enforce MRT’s obligations is a positive development for MXOM and all its stakeholders, including employees, shareholders and service providers who have supported the company throughout this period. Pan American Goldfields is a precious metals mining and exploration company. Its focus is the production of gold and silver and the development and expansion of its La Cieneguita mine in Mexico’s prolific Sierra Madre gold-silver belt.

From a technical perspective, MXOM appears to be in the early stages of breaking out and the large increase in volume has confirmed this breakout. The stock has surged above its 10 and 30 weekly moving average which is a bullish development. In addition, both moving averages slopes are increasing and positive. Why is this bullish? Because the 30 weekly moving averages has not slopped positive and the stock has not traded above its 30 weekly moving averages since August 2013. We are about to see a bullish momentum cross when the 10 WMA crosses above the 30 WMA. Investors have reason to be excited from a technical perspective, but fundamentally the stock seems to be lacking still.

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MXOM is currently trading at a $1 million market valuation. This company is showing signs of breaking out from a technical perspective and huge surge in volume. However, fundamentally there is no story or announcements to excite the shareholder base or investors. Time will tell to see if this company can create a story that captivates. Stay tuned for more information and updates.

We will be updating on MXOM when more details emerge so make sure you are subscribed to Microcapspot so you know what’s going on with MXOM.

Disclosure: we hold no position in MXOM either long or short at the publication of this article and we have not been compensated for this article.