Although the O3 Mining Inc. (OTCMKTS:OIIIF) stock was trading within a range on Thursday, it ought to be noted that the company had actually made a major announcement yesterday.
Trading Data
On Thursday, OIIIF stock slid 2.25% to $1.83 with more than 9.8K shares traded, compared to volume of 19K shares. The stock moved within a range of 1.8300 – 1.9100 after opening trading at $1.91.
O3 Mining Files Early Warning Report in Respect of Cartier Resources Inc.
The company announced yesterday that it had sent in an early warning report in relation to its holdings in the company Cartier Resources Inc. The company announced that yesterday it had been successful in acquiring a total of as many as 46,273,265 common shares in Cartier Resources which had been freshly issued. The shares in question had the deemed value of $0.145 each and the entire transaction was concluded for the monetary value of around $6.7 million.
It was an important new update from the company but that did not lead to any kind of optimism among investors and that was possibly the reason why there was not a lot of movement in the stock price either. At this point in time, it may be a good idea for investors to perhaps keep a close eye on further developments and the price action in the stock. It remains to be seen if the stock manages to move in either direction today.
Technical Data
OIIIF stock is trading below the 20-Day and 200-Day Moving averages of $1.86 and $1.85 respectively. However, the stock is trading above the 50-Day moving average of $1.70.
