If a stock trades in a range, it is no reason for investors to ignore it and especially so if there is any relevant news about the company. This past Friday, the Oceanic Iron Ore Corp (OTCMKTS:FEOVF) stock was trading within a range but at the same time, it is necessary to note that the company made a major announcement on the same day.
Trading Data
On Friday, FEOVF stock ended flat at $0.0960 with more than 7.5k shares, compared to its average volume of 246 shares. The stock has moved within a range of $0.0960 – 0.0960 after opening trade at $0.0960.
Recent News
Oceanic Iron Ore Corp announced that back on November 10 this year it had managed to complete a settlement arrangement that had been announced on November 5, 2021. The settlement agreement was in relation to some of the advance royalty payments with the royalty holders of Hopes Advance.
Oceanic Iron Ore Corp announced that it had reached a settlement with the entity 154,619 Canada Inc for this purpose. The actual settlement with 154,619 Canada was with regards to the advance royalty payments for the years 2020 and 2021. The total for those royalty payments stood at $20,000.
The company reached the settlement by issuing as many as 1,800,000 common shares at the price of $0.1111 each. Although the Oceanic Iron Ore Corpstock did not move on Friday, it will be interesting to see if it does move today.
Technical Data
FEOVF stock is trading below the 20-Day and 50-Day Moving averages of $0.1064 and $0.1074 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1547. The stock is down 4% in the past month.
