Fireweed Zinc Ltd (OTCMKTS: FWEDF) is currently up by 2%. The company’s stock previously closed at $0.48 and is now at $0.49. Fireweed has increased by 18% in the last month, making it a good choice for investors.
Trading Data
On Monday, FWEDF stock moved up 2.49% to $0.4940 with more than 1K shares, compared to its average volume of 7.7K shares. The stock moved within a range of $0.4940 – 0.4940 after opening trade at $0.4940.
About Fireweed Zinc Ltd
Fireweed Zinc is a mining exploration company in Canada. The company tried to advance the Mactung and Macmillan Pass projects. Fireweed is in support of creating a low-carbon economy. For this reason, it tries to explore and develop vital mineral assets sustainably. The company also tries to safeguard the health and safety of its workers by conducting work site checks before every work day and frequently holding safety meetings. This makes the company ideal for investors who believe in protecting the environment and workers’ rights.
One of the company’s most important projects is the Macmillan Pass Project, Yukon. The location has substantial deposits of silver, lead and zinc. The local government has shown support for the company’s mining activities, thus limiting the company’s restrictions.
Fireweed Provides Update on Name Change to ‘Fireweed Metals Corp.’
Fireweed Zinc Ltd recently announced that the TSX Venture Exchange had approved its decision to change its name to Fireweed Metals Corp. Fireweed has stated that it will start operating under the name on June 30. The company has assured investors that there will be no change in the outstanding number of shares. Moreover, it will continue to trade under the FWZ symbol on the TSX Venture Exchange.
The company had announced its decision to rebrand on June 21 and was only awaiting regulatory approval. Fireweed has already redesigned its website and added new content to it.
According to the CEO of Fireweed, Brandon MacDonald, the company is no longer just a Zinc company, and the name should reflect that. The change to Fireweed Metals relays that the company also deals in the mining of other critical metals. Other than zinc, the company also mines tungsten. Both of these minerals have a high demand and present the company with growth opportunities.
MacDonald points out that zinc and tungsten are critical minerals in Canada, the E.U, and the U.S. Since the company is based in Canada, this gives it leverage.
Technical Data
FWEDF stock is trading below the 20-Day and 50-Day Moving averages of $0.49 and $0.52 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.54.
