Is National Graphite Corp (OTC:NGRC) Rebounding

Las Vegas, NV -- (SBWIRE) -- 01/17/2013 -- National Graphite Corp (OTC:NGRC) surged in last trading session by 10.50 percent to $0.20. The share price as traded within price ranges of $0.11 to $1.24 in last 52 weeks. If we take $1.24 as its resistance level depending on the stock price history still the NGRC has considerable margin for upward movement, in fact the stock price is trading near its ever lows in last one year.

The company has also recently filed its form-10Q with its financial position. Though the company hasn’t generated any significant revenues and has realized operating loss but has ample funds for next six months. National Graphite Corp’s management also projects that the company would need funding of almost $1.410 million to keep itself in operation for the next 12 months.

In the last month, company’s Board of Directors also approved a mini bulk sample program on Chedic Voltaire Graphite Mine property. The purpose of the program is to extract samples from multiple graphite zones on the property and to perform tests on them. Depending upon the carbon content graphite prices range from $1,500 to $3,000 per ton.

To find out what OTCMAGIC projects for National Graphite Corp for both short term and long term please click here: NGRC

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