Despite the fact that it was trading in a range on Wednesday, the Goldrich Mining Company (OTCMKTS:GRMC) stock could be one to watch this morning due to the announcement that was made by the company yesterday.
Trading Data
On Wednesday, GRMC stock decreased 1.25% to $0.0790 with more than 226K shares, compared to its average volume of 135K shares. The stock has moved within a range of $0.0750 – 0.0852 after opening trade at $0.0852.
Goldrich Mining Applies for Drill Permits on High Priority Lode Gold Target at Chandalar Property
The company announced yesterday that it sent in a permit application for carrying out diamond core drilling programme over several years at its Chandalar Property to the Alaska Department of Natural Resources. The permission is going to be a crucial one for the company and hence, the announcement with regards to the submission of the same marks a significant milestone for Goldrich Mining Company.
Once the permission is granted by the Alaska Department of Natural Resources and Goldrich is able to secure the requisite financing, the company intends to begin the drilling programme at some point in May next year.
At this point in time, it may be a good idea for investors to keep a close eye on the development with regards to this application and at the same time, keep track of the price action in the Goldrich stock. It remains to be seen if the stock does break out eventually or not after having traded in a range yesterday.
Technical Data
GRMC stock is trading above the 50-Day and 200-Day Moving averages of $0.0619 and $0.0499 respectively. However, the stock is trading below the 20-Day moving average of $0.0800. The stock is up 13% in the past month.
