Star Alliance International Corp (OTCMKTS:STAL) is up 4% in a week. The company has signed binding letters of intent (LOIs) to purchase 51% of five Honduras mines and 40% of “Genesis Gold Extraction System.”
Trading Data
On Thursday, STAL stock slid by 2% to $1.54 with more than 3.6k shares, compared to its average volume of 15.22k shares. The stock has moved within a range of $1.5200 – 1.6000 after opening trade at $1.52.
Announces Updates on the Genesis and The Honduras Gold Mine Acquisitions
As confirmed before, the “Genesis Gold Extraction System” enhances gold extraction in oxidized resources. Notably, the price cuts standard extraction time from between 20 and 120 days to below 24 hours. Therefore, the costs of production are significantly reduced. Most importantly, the system is one of a kind environmental safe system.
The operating Honduras mines the company wants to purchase are currently producing gold, and the additional capital from the company will help the properties grow exponentially. The “Genesis Gold Extraction System” creator and a principal of one of the mines, Juan Lemus, said that he had been amazed at the rate at which STAR is expediting the completion of the transactions. So, in the coming weeks, STAL is worth watching.
Technical Data
STAL stock is trading above the 10-Day and 50-Day Moving averages of $1.51 and $1.29 respectively. Moreover, the stock is trading above the 100-Day moving average of $1.45. The stock is down 36% in the past month.
