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    OTC Stock Alert – Crowne Ventures continues Gains on Smelting Momentum

    OTC Stock Alert – Crowne Ventures continues Gains on Smelting Momentum

    Crowne Ventures Inc. (PINK: CRWV) surged to gain 10% on the day, moving from momentum generated earlier this week when the company announced plans for its smelting operations at the Gall de Oro and Oro de Rojos properties.

    The company said that it began contract discussions with the engineering staff at the Penoles smelter facility in Torreon, Mexico. Penoles laboratory has been conducting smelting test procedures for several weeks now and the facility’s production cost will be established once the flux formula for the best recovery is identified.

    The company plans excavated ore to be crushed to 1/8 minus at its mining site. Initial test production of 100 tons will be shipped to the smelting facility by truck. The company is also in discussions with the local rail system for ore cars to be dropped at rail head near the Gallo de Oro property. This will enable the company to accommodate the increased production and reduce shipping costs.

    Despite Crowne Ventures’ plan for starting smelting operations, the company’s shares have fallen sharply since the announcement on August 31. In the last three trading sessions the stock fell 56.62%. The stock pared some of the losses in today’s trading, climbing more than 5%.

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