The rally in the Mexus Gold US (OTCMKTS:MXSG) stock continued on Wednesday as it ended the day with gains of as much as 9%. However, it is perhaps more important to note that the rally in the stock yesterday took the gains over the course of the past week to as much as 17%.
Trading Data
On Wednesday, MXSG stock surged 9.26% to $0.0059 with more than 23.22 million shares, compared to its average volume of 4.40 million shares. The stock moved within a range of $0.0048 – 0.0081 after opening trade at $0.0050 .
Mexus Continues Producing Gold; Ships Activated Carbon To Refinery
The rally in the stock on Wednesday came about after the company announced that it had been successful in sending a shipment loaded with as much as 2 tons of activated carbon to a refinery located in the United States. It was particularly significant considering the fact that the price of spot gold had gone over as much as $2050 per ounce.
The shipment had actually been sent out by the company back on March 8 and it is believed that it will be processed by March 21. The company noted that the latest shipment was bigger than many of the previous ones that it had sent and is also going to help in boosting revenues to a significant degree. It could now be a good idea for investors to consider adding the stock to their watch lists and watch the moves.
Key Quote
“The company is in a good position right now as we are producing gold and are also speaking to potential JV partners. Sustained production at the current levels may allow the company to begin its own drilling program which would be optimal for shareholder returns.” added Mexus CEO, Paul Thompson.
Technical Data
MXSG stock is trading below the 50-Day and 200-Day Moving averages of $0.0065 and $0.0148 respectively. However, the stock is trading above the 20-Day moving average of $0.0056.
