It was not a particularly eventful day in the markets for investors in Evergold Corp (OTCMKTS:EVGUF) as the stock continued to trade within a range. However, at the same time, it is also important for investors to perhaps keep in mind that the company made a key announcement yesterday and it may be a good idea to take a look into it.
Trading Data
On Tuesday, EVGUF stock ended flat at $$0.0846 with more than 100 shares, compared to its average volume of 9.3k shares. The stock has moved within a range of $0.0846 – 0.0846 after opening trade at $0.0846.
Evergold Drills 6.2 g/t Au and 11.9 g/t Ag over 2.4 m at Snoball, Golden Triangle, B.C.
Evergold came into focus yesterday after it reported that it had discovered fresh shallow intercepts at the Pyramid Peak vein system, which is considered to be of a higher grade. It goes without saying that it was a major announcement from the company but it did not elicit much optimism from investors.
The sentiment from investors was palpable in the price action in the Evergold stock. The discovery had been made as part of the small scale drilling program at the Evergold’sSnoball property in which the company had drilled a total of four holes. However, it should also be noted that stocks which trade in a range could also break out eventually and hence, it may be a good move to keep an eye on the Evergold stock at this point.
Key Quote
“Pyramid Peak continues to tantalize with the prospect of a largely untouched, new, gold and silver-rich vein system running to depth within the mountain,” said Kevin Keough, President & CEO.
Technical Data
EVGUF stock is trading below the 20-Day and 50-Day Moving averages of $0.0914 and $0.1035 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1797. The stock is down 14% in the past month.
