Some investors are bullish on GNCC Capital, Inc.‘s (OTC:GNCP) potential to become one of the rising lithium mining stocks, but this company is already an established mining and exploration company targeting gold and silver. GNCP has made the list of many momentum trackers after 2 billion shares were traded on October 14th but this was a sign of things to come given GNCP’s 100% increase in value on the 19th.
After 2 billion shares were traded on October 14th – a sharp increase from its average of 300 million – investors questioned what could have triggered the sharp increase in volume. While the catalyst is still unknown, the company’s interest in Lithium has brought the stock to many investors’ attention.
Starting in June, GNCP began negotiations to acquire a total of 48 Lithium lode claims but its Pearl Spring property is also located near the Rockwood Lithium’s lithium brine production facility – the only US domestic lithium producer. Speculation increased after the company shared a Barrons’ lithium challenge article on its official twitter page.
According to GNCPs quarterly report, the company already has USA Lithium Holdings Corporation as a wholly owned subsidiary. Once final funding is raised to close on GNCP’s two lithium deals, they will likely be put under this subsidiary. However, the company has also clarified that it will obtain this funding by acquiring an operating business to generate revenues and cash flow. GNCP’s management has also made it clear that they will not pursue a reverse split
While most investors are excited about the future of GNCP in the lithium sector, the company also operates on several sites for mining and exploration work: the Pearl Spring, Yarber Wash, McCracken, and White Hills. All of these projects have the potential to bring in valuable minerals and revenue for the company, but considering the growing demand for lithium due to exponential growth in the EV market – lithium mining stocks have become very popular.
@BizWrld aka OTC BOSS, has high hopes for GNCP and pending lithium news!
Should You Buy?
With GNCP’s plans for acquiring 48 Lithium lode claims, there appears to be a positive short term trend for the stock – especially as it comes closer to becoming current. GNCP could experience a runup on news of an acquisition or with more volume. Whether the interest in GNCP is temporary or long-term remains to be seen. But for now, GNCP is trading at $.0003 with a market cap of $27,969,994.
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