There were many stocks which emerged as significant gainers on Wednesday and one of the notable movers was the North Bay Resources Inc (OTCMKTS:NBRI) stock.
Trading Data
On Wednesday, NBRI stock surged 37.50% to $0.0011 with more than 313.14 million shares, compared to its average volume of 190.97 million shares. The stock has moved within a range of $0.0009 – 0.0012 after opening trade at $0.0009.
Reports on Significant PGM and Gold By-Product Potential at Tulameen Platinum Project
The stock was in sharp focus yesterday after the company made an announcement with regards to the report from the field work that had been conducted at the Tulameen Platinum Project. The project which is located in British Columbia is owned by North Bay in its entirety. The results have proven to be positive and as a result investors piled on to the stock in a big way. The North Bay stock ended the day with gains of as much as 38% yesterday and it is going to be interesting to see if he stock can continue to move upwards today.
In this situation, it might be a good idea for investors to perhaps take a look at some of the highlights from the report in order to make up their minds. The report revealed that the property could have potential metal targets to the tune of 729000 ounces of platinum 294000 ounces of gold, 363.95 million pounds of nickel and 1.308 billion pounds of Chromite. Hence, the current optimism about the North Bay stock may not be misplaced.
Technical Data
NBRI stock is trading below the 20-Day and 50-Day Moving averages of $0.0011 and $0.0016 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0013. The stock is up 22% in the past week.
