Yesterday, Northern Superior Resources Inc made an announcement with regards to the fact that it had completed the acquisition of the Gaspard Nord property from Kintivar Exploration Inc. Northern Superior (OTCMKTS:NSUPF) acquired the property in its entirety.
Trading Data
On Tuesday, NSUPF stock fell by 3% to $0.5626 with more 13k shares, compared to its average volume of 83K shares. The stock has moved within a range of $0.5626 – 0.5830 after opening trade at $0.57.
Northern Superior Completes Strategic Acquisition of Kintivar’s Gaspard Nord Property
Normally, the news of such a significant acquisition leads to a certain degree of optimism among investors but that did not happen in case of Northern Superior. In fact, the stock suffered from a selloff and ended the day with a decline of as much as 3%. In this situation, it may be a good move to take a closer look at the development.
The property in question is situation at the gold-copper camp at Chapais- Chibougamau and is made up of as many as 5 claims stretching across an area of as much as 2.8 kilometres. It is clear to see that the acquisition of the property could help the company is growing in the near future, however, it still remains to be seen if investors se it in the same light. At this point in time, it could be a good idea to keep the Northern Superior stock in your watch lists and keep an eye on the developments.
Key Quote
Dr. T.F. Morris (PhD., P,Geo, FGAC, ICD.D), President and CEO of Northern Superior commented: “Acquiring additional ground associated with the OGDZ hosting gold showings and soil “B” horizon gold geochemical anomalies, and occurring west of and along strike from the Falcon Gold Zone, is an exciting opportunity to understand the potential for additional gold mineralization west of the Falcon Zone.”
Technical Data
NSUPF stock is trading above the 20-Day and 50-Day Moving averages of $0.5577 and $0.5528 respectively. However, the stock is trading below the 200-Day moving average of $0.8033.
