After releasing information about the appointment of new auditors yesterday morning, Dutch Gold Resources, Inc. (PINK:DGRI) had a positive session, a rarity for the stock these days.

The desire to acquire more and more, to own as many possessions as possible, to buy everything we need for one purpose or another, is something typical for humans. Is it quite common in the world of business too. Sphere Resources Inc., a Canadian gold exploration company, is an eloquent example.

Over the last months, Sphere is furiously buying assets that the company considers important for its purposes. This has finally attracted the attention of promoters. Only one promoter so far, to be precise – allpennystocks.com, which has received no compensation for advertising the company.

Sphere’s activity has also helped the stock (CVE:SPH.H), (PINK:SPHUF) climb on the markets. SPH.H has moved 250% up since November, when it was traded at 0.02 per share. Yesterday, the shares finished at $0.07, gaining about 8% from the previous close.

As a whole, however, the stock has not made a notable progress recently. Since the start of the year, SPH.H has been floating in a trading range between $0.05 and $0.07.

Nevertheless, the company’s furious buying of assets continues, and there are no signs it will stop soon. We cannot help mentioning some of the important acquisitions.

Sphere gained two properties located in Nevada – Poker Flats and Ziggurat. They were acquired last December through an option agreement with Mexivada Mining Corp. and a contract with Spartan Gold Ltd. (“Spartan”).

In accordance with the agreements, the company, together with its joint venture partner Spartan, have the right to acquire an equally shared 70% interest in the two assets. Spartan is responsible for financing of the first stage exploration activities at the properties.

In January, the company signed an agreement to acquire all Global Mineral Resources Inc. claims in the Dome property in Ontario’s Red Lake’s gold district. These claims remain subject to the company’s contract with Duncan Park Holdings Corporation, known as the “Duncan Park Option Agreement”, signed in March, 2010.

Yesterday, the company informed about another strategic acquisition: under an agreement with Camp McMan Red Lake Gold Mines, Sphere acquired 100% of the Alcourt gold property near the town of Red Lake. As stated in the release, Alcourt is historically known to contain good gold grades.

It may seem nice to buy properties, but it is perhaps a different story how sensible this will turn out to be. Possessing more assets cannot guarantee you immediate success. Besides, Sphere has not made any revenue from these properties yet. Only when this happens, we could declare that acquiring all these assets was fully justified.

Finally, we should note the financial condition of Sphere Resources – it really does not look very solid. In the end of last September, the company had practically no cash. It reported a net loss of $464K for the third quarter of 2010, as well as a working capital deficiency of $6.1M.

Cerro Dorado Inc (PINK:CDCH) soared 34% to $0.187 yesterday on a higher than the 30-day average volume. The number of traded shares reached 1.4 million, which accentuated the stock appreciation, signaling for a possible momentum play.

The volume of CDCH was not produced by a promotion, but rather by a shareholder update which was published yesterday on the website of the company. CDCH announced that a tranche of funds, which was necessary to complete the joint venture agreement, was in the last stage of transfer to the company’s bank account. CDCH emphasized that: “until we have verified funds in place, the Joint Venture Agreement is not fully consummated.”[BANNER]

Retrospectively, the company had stated in a press release from December 2010 that the JVA would be closed on or before Jan. 15, 2011. Obviously, more than two months have passed since the deadline and the deal is still not finished. At the time of the announcement the stock had already conquered a price range above $0.2 per share. However, at present the value CDCH shares has plummeted down significantly, most likely due to the company’s inability to honor it’s word.

So far, CDCH along with its sister company Medina Minerals, hasn’t made any effort to become more overt by trying to file at least one official document with the OTC Markets, let alone with the SEC. This factor is heavily tilting the balance of CDCH stock towards risk and speculation. Therefore, at present the risk tolerant investors will have to rely only on the company’s website updates for guidance in the land of CDCH’s stock.

Needless to say, there is no way you can do business without money. You might be a brilliant manager, have wonderful ideas, hire excellent employees, but this will just not be enough. If you do not have sufficient capital in your hands, you may end up achieving nothing.

This is what managers of Compliance Energy Corp. (CVE:CEC), (PINK:CPYCF) seem to know very well. Over the last days, they have been quite busy trying to secure additional funds for the company.

A week ago, Compliance announced a $3.5M financing that was comprised of two placements: a flow-through financing for gross proceeds of $1.25M; and a $2.25M non-flow-through financing. In the days that followed, the company informed about having closed the two portions of the placements.

As expected, the financing news had a positive effect on the stock performance. In a week, CEC went over 18% up, closing yesterday at $0.39. The turnover of 712K shares was well above the company’s average.

These funds come just in time for the company. In the end of last September, it had reported only $860K of cash, together with a net loss of $237K for the third quarter of 2010.

Now, with the new financing, things look much better indeed. Still, it is not clear for how long the surge of the stock will continue.

From a technical point of view, the last two candlesticks formed a pattern that resembles a bearish Doji star. It suggests a potential decline in the share price, but this requires confirmation.

During the last session only, an inverted umbrella was formed – this might mean a possible bearish reversal sign too. However, its reliability is not very high and needs confirmation too.

Regardless what technical analysis says, the company continues its efforts to impress investors and support its shares on the markets. Several days ago, Compliance took part in the annual conference of Prospectors and Developers Association of Canada that was held in Toronto.

Regardless of the technical analysis, CEC opened today’s session higher than yesterday – at $0.41 per share.