The establishment of a new management team at a company can often prove to be a blessing and hence, the Bunker Hill Mining Corp (OTCMKTS:BHLL) stock could well be an interesting proposition for many investors at this point in time.
Trading Data
On Thursday, BHLL stock fell 9.10% to $0.15 with more than 99K shares traded, compared to volume of 62K shares. The stock moved within a range of $0.1500 – 0.1650 after opening trading at $0.0016.
About Bunker Hill Mining Corp
The company now has a new management that is based out of Idaho and this management is looking to recommence the development of the Bunker Hill Mine as the first order of business in its effort to consolidate the North American precious metal assets that Bunker Hill Mining controls.
The focus of the exercise is going to be on silver. However, on Thursday the Bunker Hill Mining stock did not perform particularly well and suffered from a selloff as it dived by as much as 9%. In this sort of a situation, it may be important for investors to work out if the fall could be actually be an opportunity or if the slide is going to continue.
Bunker Hill Announces Appointment of Dr. Mark Cruise as Independent Non-Executive Director
The selloff in the Bunker Hill Mining stock came about after the company made a key announcement with regards to its board of directors. The company announced that it had appointed Dr Mark Cruise to its board of directors and he was going to replace Wayne Parsons. While the company’s Executive Chairman Richard Williams seemed quite enthusiastic about the new appointment, it seems that investors were not particularly happy with it and that perhaps explains the fall in the stock price yesterday.
Williams noted that he was proud and excited at welcoming Dr Mark Cruise to the company’s board. He then went on to speak about Cruise’s credentials. Williams noted that Cruse was not only a professional geologist, who has worked in that capacity throughout his career but he also possessed considerable experience as a builder of companies.
In addition to his professional expertise, Cruise also had a vast professional network and had a record of bringing about growth in mining companies which are of middling size. Although the investors reacted in a negative way yesterday, it is going to be interesting to see if the stock can rebound today.
Key Quote
Richard Williams, Executive Chairman, commented: “I am excited and very proud to welcome Dr. Mark Cruise to the Board of Directors of Bunker Hill. A highly respected career geologist and company builder, his technical expertise, extensive professional network, and track record of growing mid-tier mining companies add essential strategic capabilities to our Board as we start to look beyond the restart the mine towards ways to create new value from investment in exploration and external growth opportunities. We are very lucky to have him join us.
Technical Data
BHLL stock is trading below the 20-Day and 50-Day Moving averages of $0.18 and $0.20 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.21.
