Rise Gold Corp (OTCMKTS:RYES) had come into focus yesterday after it reported strong metallurgical gold recovery results through the deployment of the environmentally friendly and fairly simple reagent scheme.
Trading Data
On Tuesday, RYES stock fell 0.15% to $0.6689 with more than 45k shares, compared to its average volume of 26K shares. The stock moved within a range of $0.5953 – 0.6689 after opening trade at $0.6388.
Rise Gold : Achieves 99% Gold Recovery from Idaho-Maryland Mine Test Work – Form 8-K
While the development was an important one, it is perhaps also necessary for investors to keep in mind that the Rise Gold stock has performed poorly in the past week and has declined by as much as 7% during the period. In this situation, it may be a good idea for investors to take a closer look at the announcement made by the company yesterday and then make their minds up about the stock.
Rise Gold announced yesterday that the total gold recovery by using its method stood at as much as 98.7% in case of concentrates that averages 117 gpt gold. It was a strong performance and hence, it could be argued that it is a reagent scheme that could eventually prove to be a major part of the company’s operations going forward. At this point in time, it could be a good move from investors to perhaps keep the Rise Gold stock in their watch lists and watch for further developments in the coming days.
Technical Data
RYES stock is above 20-Day and 50-Day Moving averages of $0.61 and $0.46 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.44.
