There has been significant focus on the lithium sector in recent years due to the wide range of industries in which the chemical is deployed. Over the course of the past week, one lithium related stock which has come into significant focus among investors is that of One World Lithium Inc (OTCMKTS:OWRDF).
Trading Data
On Wednesday, OWRDF stock fell 0.28% at $0.0722 with more than 34.95K shares, compared to its average volume of 46.08k shares. The stock has moved within a range of $0.0689 – 0.0725 after opening trade at $0.0716.
Announces Closing of Non-Brokered Private Placement
During that period, the stock has managed to deliver gains of as much as 8% and on Wednesday, the company was back in focus after it made a key announcements. One World Lithium announced yesterday that it had been successful in closing the sale of the second and last tranche of 30,000,000 units as part of the non-brokered private placement that had been announced previously.
The company sold those units for $0.06 each and managed to bring in gross proceeds to the tune of as much as $1,800,000. It was a significant development for the company as it led to a further infusion of capital into One World Lithium. In this regard, it is perhaps also necessary for investors to keep in mind that the proceeds are going to be deployed towards further drilling and exploration at the Salar del Diablo Lithium Brine Property.
Technical Data
OWRDF stock is trading below the 20-Day and 200-Day Moving averages of $0.0722 and $0.0769 respectively. However, the stock is trading above the 50-Day moving average of $.0700. The stock is up 8% in the past week.
