There have been a number of metal stocks which have made significant moves either way over the course of the past few days and one of those is the Trigon Metals Inc (OTCMKTS:PNTZF) stock. Over the course of the past week, the stock has suffered from a strong selloff and gone down by as much as 7%.
Trading Data
On Tuesday, PNTZF stock ended flat at $0.3450 with 1 share traded, compared to its average volume of 6.4k shares. The stock has moved within a range of $0.3450 – 0.3450 after opening trading at $0.3595.
Trigon Metals Reports Mineral Reserve and Updated Feasibility Study for the Kombat Open Pit
As it happens, the company was in focus yesterday after it made an announcement with regards to an updated mineral reserve estimate that is in compliance with National Instrument 43-101. It was a major announcement from the company and it now remains to be seen if it helps the Trigon Metals stock in getting any kind of traction.
However, that was not all. In addition to that, the company also announced a feasibility study in relation to the open pit mine that it is working on at the Kombat project located in Namibia. The latest update for the mineral resource estimate at the mine as of August 3, 2021 now stands at 12.22 Mt indicated and 1.91 Mt inferred. While it remains to be seen if the stock can recover soon, it might be a good move to keep an eye on Trigon Metals nonetheless.
Technical Data
PNTZF stock is below the 20-Day and 50-Day Moving averages of $0.3562 and $0.03861 respectively. However, the stock is trading above the 200-Day moving average of $0.3191.
