Shares of Piedmont Mining Inc. closed at $0.035 a share today, up more than 94 percent. The uptick in price has been accompanied by an upsurge in the volume to nearly 1.2 million shares which is well above the average daily volume of less than 35,000 shares. The company’s stock was mentioned in the FREE Daily QualityStocks Newsletter back on December 30, 2009 when it was trading for about $0.02 a share.
Piedmont Mining is an exploration-stage company exploring for gold and silver in Nevada. In addition, the company has small interests in oil producing wells in Tennessee. These wells are to provide Piedmont with a source of cash flow to fund its gold and silver exploration activities, which will reduce the need for the company to raise capital by selling more stock and diluting the stake of current shareholders.
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