I hope you are all having a great week. For tomorrow I have discovered a stock that is already on fire and making an explosive move up!
My pick is LXRP
Ever since LXRP bounced off the $0.06 lows at the end of last week it’s been upward bound running 18.5% today alone on accelerating volume. LXRP is no stranger to big moves; back in March of this year when they announced their entry into the Med-Mj sector the stock skyrocketed well over 1000% from around a nickel to highs over $0.75.
Now that LXRP is back under a nickel with a fresh chart coming off its bottom, accelerating volume and big recent news, investors are taking notice.
LXRP recently reported excellent oil production rates at the new PPF-12-7 oil well at Belmont Lake, Mississippi. The well is now flowing and selling oil. s of Friday September 12, the well was producing approx 120 bo/d on a 12/64thchoke. For Sept 13 it produced 119 bo/d on an 11/64thchoke; and on Sept 14 it produced 119 bo/d on a 10/64thchoke.
About LXRP
Lexaria Corp. has been in business since 2005 and for nine years explored for and developed oil and gas assets in low-risk areas of North America. Lexaria still owns oil production in Mississippi, producing oil from wells at the Belmont Lake oil field. During the last three full years combined, LXRP's revenue was a total of about $3,550,000!
In addition, LXRP is now focusing considerable management skills to becoming a trusted participant in the legal marijuana sector. It's not as big a leap as you might think: LXRP's management team is used to working with State and Provincial governments and regulators. They're also used to working with the Federal Governments of Canada and the USA, and the Securities Commissions within both countries.
LXRP's first step into the market is a Joint Venture signed March 5, 2014 with Enertopia Corp (ENRT-US and TOP-Canada). Enertopia is one of Canada's leading medical marijuana companies with two recent acquisitions recently announced. Enertopia has the capability of putting more than 60,000 sq ft of production space into use in the cultivation of medical marijuana, through its partly owned subsidiaries.
LXRP's Joint Venture gives Enertopia the ability to share projects and opportunities with Lexaria Corp, a Right-Of-First-Refusal that catapults Lexaria above the ranks of many also-ran competitors. The Joint Venture also allows for the two companies to work together on bigger projects.
On May 27 2014 they announced their intention to build a second marijuana production plant, this time located in Eastern Ontario through a joint venture with Huntington Property Group Inc. The first phase of this project is to be over 20,000 sq. ft. in size, and Lexaria owns 100% rights! This is a project that, fully developed, has the potential to grow to over 80,000 sq. ft.
The company is also evaluating potential legal grow locations in those jurisdictions in the USA where they are permitted, because it is their intention to be a North American producer of legal marijuana.
On the technical side LXRP is a highly compelling situation, the stock is way down off its recent highs near $0.80 per share and is just now coming off its recent lows of $0.06. From here LXRP has momentum and news on its side with a massive gap to fill.
If you have not started your research yet on LXRP I suggest that you start immediately.
I will have more before the bell
