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Posted by
admin 874 days ago
(http://emailwire.com)
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(EMAILWIRE.COM, December 30, 2010 ) New York, NY-Tri-Valley Corporation (AMEX:TIV) shares skyrocketed over 63% in After-Hours trading to $0.93. Interestingly, more than 229K shares have changed hands in extended hours. In the regular session, the stock closed up 14.60% to $0.55.
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Recently we had noticed some unusual volumes in the stock. Therefore, we recommended our Free subscribers to consider TIV.
On 22-Dec-2010, the company had announced that it would sell its Admiral Calder Quarry property located in Alaska to Columbia River Carbonates for $2.50 million. As per the agreement, the Tri-Valley will received all the agreed amount in cash. The proceeds will be utilized to pay off its debt to the extent of $1.0 million.
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On net basis, the company's balance sheet size would be increased by $1.50 million and the company is expected to gain $1.4 million on sale.
Although, there is no official news, which could justify the sudden spike up in the stock, but looking at the volumes in After-hours the stock is looking very bullish.
So far this year, the stock has slumped 72% and has a 52-week range of $0.35-$2.30.
Tri-Valley Corporation (tick) operates its business through 5 different wholly owned subsidiaries and serves various segments including oil and gas operations, rig operations, minerals, and drilling and development.
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7322290668
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Source: EmailWire.Com
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