Investors in Falcon Gold Corp (OTCMKTS:FGLDF) have had a bit of a rollercoaster ride in the past few days and it is likely that the stock is going to be watched closely this week by many investors. This past Friday the company was in the news after the company’s Chief Executive Officer Karim Rayani provided a corporate update by way of a letter issued to the shareholders.
Trading Data
On Friday, FGLDF stock slid 8.33% to $0.0539 with more than 2.2k shares, compared to its average volume of 38.8k shares. The stock has moved within a range of $0.0539 – 0.0632 after opening trade at $0.0632
Issues Corporate Update Letter
The development did not actually lead to any optimism among shareholders and it actually led to a selloff as the Falcon Gold stock ended the day with losses of 8%.
While the losses were significant, it is perhaps also necessary for investors to keep in mind that over the course of the last week it is still up by as much as 24%. Hence, it might be a good move to take a look at some of the highlights from the letter.
Rayani stated that Falcon Gold continued to make significant progress with regards to Central Canada gold mine project and noted that two rounds of successful drilling had been completed. He added that in the quest to find new opportunities Falcon Gold had also made a range of acquisitions in Central Newfoundland.
Technical Data
FGLDF stock is trading below the 10-Day and 50-Day Moving averages of $0.0566 and $0.0614 respectively. Moreover, the stock is trading below the 1000-Day moving average of $0.0748.
