Adventus Mining Corporation (OTCMKTS:ADVZF) is up 4% in a week after the mining company and its partners Salazar Resources Limited collectively announced a SEDAR submission of their NI 43-101 technical report that supports the recently finalized feasibility study on their Curipamba gold-copper project located in Ecuador.
Trading Data
On Friday, ADVZF stock ended flat at $0.76 with more 5.3k shares, compared to its average volume of 14.18K shares. The stock has moved within a range of $0.7550 – 0.7588 after opening trade at $0.7550.
Latest News
On October 26, 2021, the companies issued a release of the Curipamba feasibility study results summary. According to the filing, the company has finalized the last important milestone requirement under the earn-in option to purchase 75% of the project pursuant to the restated and amended earn-in option agreement between the companies of September 19, 2019.
So far, Adventus has issued a written notice for the exercise of the earn-in option to Salazar. In the next 30 days, the companies will finalize the earn-in mechanics, with Adventus receiving a stake worth around 75% ownership of Salazar’s Canadian subsidiary, the owner of the Curipamba project. Therefore, in the coming days, investors should keep an eye on ADVZF.
Key Quote
President and CEO of Adventus, Christian Kargl-Simard stated: “Adventus is pleased to announce this major milestone which is a culmination of significant multi-disciplinary efforts by our team of professionals, partners, and shareholders since our 2017 decision to enter the Curipamba project and Ecuador. In particular, we would like to thank Fredy Salazar and the Salazar Resources team for trusting and working closely with us to position Curipamba to where it is today. Adventus looks forward to further realizing significant value and catalysts from Curipamba in 2022 and beyond.”
Technical Data
ADVZF stock is trading in the neutral zone with RSI at 55. The stock has pivot supports at 0.7525, 0.7537, 0.7563 and resistances at 0.7601, 0.7613, 0.7639. The stock is up 9% in the past year.
