North Bay Resources Inc (OTCMKTS:NBRI) Stock Suddenly Jumps 40%: What’s The Buzz?

Those who are going to be looking into the major gainers from Thursday this morning might find it difficult to ignore the North Bay Resources Inc (OTCMKTS:NBRI) stock.

Trading Data

On Thursday, NBRI stock soared 40% at $0.0014 with more than 766.11 million shares, compared to its average volume of 210.90 million shares. The stock has moved within a range of $0.0010 – 0.0016 after opening the trade at $0.0011.

Tulameen Platinum Project Assays

The North Bay stock emerged as one of the major gainers yesterday after the company made a key announcement and ended the day with gains of as much as 40%. The stock soared yesterday after the company made an announcement with regards to the field work that had been conducted by North Bay at its Tulameen Platinum Project. The project in question, which is located in the South Eastern part of British Columbia, is owned in its entirety by North Bay.

The company announced that the assay results that have been compiled by the Vancouver based ALS Labs has revealed average magnesium yields to the tune of as much as 26.45%.

More importantly, the yield percentage is in line with the previous reports and that is another important thing to keep in mind. The company also noted that the demand for magnesium has remained high and that has resulted in the continued increasing price. Not too long ago, the price magnesium went past $5000 per tonne.

Technical Data

NBRI stock is trading below the 20-Day and 50-Day Moving averages of $0.0017 and $0.0016 respectively. Moreover, the stock is trading below 200-Day moving average of $0.0016. The stock is up 40% in the past 3-month.