It has been a pretty difficult time in the markets for investors in the Trigon Metals Inc (OTCMKTS:PNTZF) stock and that can be gauged from the price action in its stock over the course of the past week.
Trading Data
On Tuesday, PNTZF stock ended flat at $0.30 with 16K share, compared to its average volume of 6k shares. The stock has moved within a range of $0.2989 – 0.2989 after opening trade at $0.2989.
Trigon Files NI 43-101 Technical Report and Feasibility Study on Kombat Mineral Reserve
In the past week, the selloff in the stock led to a decline of as much as 5% and in this regard, it should also be noted that over past month the stock is down by 20%. While it is true that there was no news about the company yesterday, there was an important development with regards to Trigon on Monday, December 20, 2021.
On that day, it emerged that the company had successfully completed the filing of a technical report that is compliant with National Instrument 43-101. The report in question also supported the mineral reserve estimate as well as the feasibility study in relation to the open pit mine that is situated at Komba project that belongs to Trigon.
The Kombat project is located in Namibia. While it is true that the announcement was an important one, it did not lead to any reversal in fortunes for the Trigon stock this week.
Technical Data
PNTZF stock is trading in the neutral zone as RSI stands at 29. The stock is trading below the 50-Day and 200-Day Moving averages of $0.3809 and $0.3214 respectively. The stock is down 19% in the past month.
