Shares of Osceola Gold (OTCMKTS:OSCI) were among the top gainers on Monday and soared 35%.
Trading Data
On Monday, OSCI stock soared 35.10% to $0.1628 with more than 846k shares, compared to its average volume of 499k shares. The stock moved within a range of $0.1200 – 0.1778 after opening trading at $0.14.
Osceola Gold Completes First Round of Non-Dilutive Funding, Phase 2 to be Launched Right after Phase 1 Concludes
Precious metal mining company, Osceola Gold (OTCMKTS:OSCI), has announced on March 14, 2022 about completing round one in non-dilutive funding, with Sajeindus Agromine, on behalf of 40 Brightwater LLC. The amount is $5 million; with the company affiliates facilitating the expedient completion of Phase 1 to enable management to launch Phase 2 without delay. Shannon Newby, President of 40 Brightwater is extremely hopeful regarding their investment with Osceola Gold, and looks forward to promising results.
The reason for the funding being structured as non-dilutive is in the best interest of shareholders, and investors. Operationally this first injection of non-dilutive funding will facilitate the completion of Phase 1, and the capability to move into Phase 2 right away. Phase 1 finalization includes confirmation of drilling locations with geologist, inspecting all areas to ensure compliance with BLM, MSHA and NDE, and competing all on-site maintenance and updates.
As of now, the company has devised a short-term strategy to purchase additional and larger equipment to increase the run rate. Scaling up daily production is expected to strengthen Osceola’s Spring season considerably.
The company focuses on the development and exploration of gold and other precious metal mining projects. Thomas More, President and CEO of Osceola Gold, has stated that projections show their capacity to pull 1 gram per ton processed out of the ground on average.
Key Quote
“Our organization couldn’t be more excited about our investment with Osceola Gold and the direction we are headed.” stated Shannon Newby, President Of 40 Brightwater.
Technical Data
OSCI stock is trading above the 20-Day and 50-Day Moving averages of $0.14 and $0.13 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.11.
