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By Peter Hristov
Apr 12, 2011

El Maniel International, Inc. (EMLL.PK) Glazed by Claims of Gold Findings

emll CHART.pngYesterday, El Maniel International Inc (PINK:EMLL) surged 40% on an impressively high volume. 335 million shares changed hands on the session yesterday, signaling that something important had happened and attracted the attention of investors.

In fact, yesterday EMLL announced that there were significant gold findings on the Ghana gold property. EMLL went on to make a projection of the future revenues from the gold reserves. However, no official document was provided to support the news which was published through Globenewswire – an EMLL logo.pngunofficial source of information.

 Meanwhile the company had published its unofficial quarterly report. The 10-Q didn't say something which is new to investors:

  • the development stage company still has no revenues.
  • There was a $30 thousand net loss which was covered by a line of credit form Co-Max International Limited
  • Mineral properties valued at $2.3 million but it is not clear how this estimation was made.

 On the whole, after the published news it wont be surprising if the discussion about EMLL shifts from the search for gold on the Ghana property to an eventual preparation for production. However, currently the stock is entangled in the resistant triple zeros area and it is not clear how much shares will have to be absorbed before the stock can get a solid foundation for growth. Especially, given that there is no information about the public float at present.

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Article Comments:

carrythetorch wrote: 2:29 pm May 24, 2011
Company finally admitted that they lied in email responses to many shareholders in that the statements of 892
million shares outstanding on December 30, 2010 were actually substantially higher. as of May 2, 2011 com
pany admitted in disclosure statement that the outstanding is 4.5 billion shares and the float is 2.5 bil
lion shares. The Epic Worldwide Inc. toxic financing has now proven that the average shareholder is in at
.00045 and that after all the lies about assets and gold production and share dilution no one cares that
the pink sheets allowed EMLL to go Current Tier as opposed to limited information Tier. The fact is that
in march 2011 the CEO voluntarily deregistered EMLL from the OTCBB and ended all audits to hide the orig
inal wrap around agreement that was fraudulent as well as all other lies told. Now , no one can verify an
ything he sai