Rimrock Gold Corp (OTCMKTS:RMRK) Is Today's Stock Focus

Rimrock Gold Corp. (OTCMKTS:RMRK), the mining operator, surprised the market very recently. The share price jumped astonishingly on August 22, 2017 without a clear explanation of what happened, as no news was received. On top of it, more than 1.5 billion shares changed hands some days. The market movement interested the Insider Financial team very much, thus we commenced due diligence on the company. Before we provide more details, have a look at the recent share price action: 1 month chart for RMRKBusiness HistoryAs noted in the last quarterly report released by the company, RMRK "is a diversified mineral exploration company focused on identifying, acquiring, advancing, and drilling high-grade gold-silver exploration projects in Nevada." The company was founded in August 2007 in Nevada. On January 24, 2013 RMRK signed a purchase agreement with RMIC Gold, a private Nevada company, to acquire an epithermal bonanza gold-silver property known as the Ivanhoe Creek Property. The new asset consists of 22 unpatented lode-mining claims (440 acres) in north-central Nevada. The payment for this new property was said to be 150,000 shares. Furthermore, there are some conditions attached to the contract:

"Any mineral production from Ivanhoe Creek Property is subject to Net Smelter Returns royalties of 1% due to RMIC Gold." Source

There is plenty of information about the company and its operations on its web-site address www.rimrockgold.com. There we could read that RMRK has two subsidiaries to run the business: Tucana Exploration Inc., and Rimrock Mining Inc. These two seem to be the result of acquisitions or business transactions made by the company in the past.Recent Developments - What can be going on?The last filing or announcement made by the company or any of the directors was long time ago. On September 22, 2015, we could see the last filing, which was the resignation of its Vice President of Exploration, Mr. Richard Redfern:

"Richard Redfern resigned as a Director of the Company. Mr. Redfern did not resign as the result of any disagreement with the Company on any matter relating to its operation, policies (including accounting or financial policies), or practices." Source

Hence, we believe that the reasons that explain the share price move came from outside the company. In particular, we found that the social media activity around this time had increased dramatically. It may have affected the share price. Many comments were added on the Yahoo Finance and the Investors Hub forum.Another case scenario is that there may be rumors out there. We found, for example, that in a 10-Q of Croe Inc. (OTCMKTS:CRCW), the following text could be found:

"Pursuant to a Note Purchase Agreement dated as of March 27, 2017 by and between the Company and Rimrock Gold Corp, (“Rimrock”), the Company agreed to fund up to $300,000 to settle outstanding convertible debt of and accounts payable by and on behalf of Rimrock, for the ultimate acquisition of Rimrock, a currently inactive public company located in Las Vegas, Nevada. The Company expects to consummate the acquisition in the fourth quarter of 2017. For the period from inception to June 30, 2017, the Company advanced $107,000 on behalf of Rimrock to settle the aforementioned liabilities." Source

What does it mean?It means that Rimrock is about to merge with Croe Inc. CRCW was said to be transforming recently into a "Crypto Company”, thus the internet is telling right now that Rimrock may run the same business. The story is quite surprising, as we could not find any reference to this information in the OTC Markets website of RMRK. We believe that readers would do good by following the company. Confirmation from RMRK would really get the stock moving much much higher.Financial Condition and Conclusion According to the last 10-Q that we could find, RMRK owns $394,970 in mining properties, $2,224 in cash and a total of $433,698 in liabilities. But, this financial figures are quite old and may have changed. Thus, we are waiting for an update from Rimrock.In conclusion, it seems that social media activity and some rumors made the share price of RMRK move. No news from the company was received and the financial information is quite old. Hence, even if the share returns obtained by some people have been very large, we recommend to act with caution until the company confirms whether it's getting into the cryptocurrency biz. Like always, we will keep our email subscribers informed, as if the company issues an update, the share price could spike again.We will be updating our subscribers as soon as we know more. For the latest updates on RMRK, sign up below!Image courtesy of Crypto Consumer UK via FlickrDisclosure: We have no position in RMRK and have not been compensated for this article.