One of the stocks which emerged as one of the notable gainers on Wednesday was Xtra Energy Corporation (OTCMKTS:XTPT), which ended the day with gains of as much as 7%. In light of the rally in the stock yesterday, it could now be a good time for investors to figure out if it has more steam so as to add to its gains or not.
On Wednesday, XTPT stock moved up 7% to $0.0534 with 162K shares, compared to its average volume of 157K shares. The stock moved within a range of $0.0480 – 0.0590 after opening trade at $0.0480.
About Xtra Energy Corporation
The company is mainly involved in the acquisition, exploration, and then development of gold properties in the continent of Africa. Xtra Energy holds considerable interest in 2 production zones in the province of Maniema. The permits that the company holds provide it with access to as many as 72 mining rigs spread across 62 square kilometers.
In the past, it had been known as X-tra Petroleum Inc but later on, in November of 2010, it changed its name to Xtra Energy Corporation. It had been originally established in 1997 and is based out of the city of Fruitland in Idaho. Now that you have a fair idea about Xtra Energy as a company, it is now time to take a look at the announcement from it yesterday that brought about the rally.
Xtra Energy Corp., Announces the Completion of Locating & Mapping of 825 Acre Antimony Property
The company announced yesterday that it had been able to figure out the boundaries, mapping, and location of as many as 40 targeted lode claims at the Antimony property. The claims are spread across an area of 825 acres. It was a major new development for the company and the excitement among investors is understandable.
However, at the same time, it is necessary to keep in mind that there is still work to be done. At this point in time, Xtra Energy is going to be involved in preparing and naming each of the claims in order to record them with the Bureau of Lands Management. Once the recording process is completed with the bureau the company is going to begin the process of disclosing the exact location of the target at the Antimony Deposit. It may be a good idea for investors to now keep an eye on the stock.
XTPT stock is trading below the 20-Day and 50-Day Moving averages of $0.0513 and $0.0411 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0156.