The mining and exploration sector has garnered considerable attention among investors due to the focus on commodities from among investors in recent months. There are a large number of mining stocks that one can look into but this article is going to deal with Bonanza Goldfield Corporation (OTCMKTS:BONZ), which has made some interesting moves in recent times.
Trading Data
On Tuesday, BONZ stock fell 4% to $0.0025 with more than 3.11 million shares, compared to a volume of 1.09 million shares. The stock moved within a range of $0.0024 – 0.0034 after opening trade at $0.0024.
About The Company
Bonanza Goldfield is based out of Las Vegas and is involved in mining and exploration. Bonanza Goldfield is involved in exploring for silver and gold in the Comstock Mining and Goldfield, Tonopah mining districts which are located in Nevada. In addition to that, the company is also involved in mining activities at the Chloride Mining District in the state of Arizona.
However, that is not all. Bonanza Goldfield is also involved in the creation of a metaverse and an ecosystem that is going to be dedicated to the entertainment and media industry. The metaverse in question is going to put into use NFT (non-fungible token) and blockchain technology as well by way of acquisitions.
Bonanza Goldfields Corp. Announces the Appointment of New CEO, CRO, and PR Director
As it happens, the company came into the news cycle on Tuesday after it announced that it had appointed a new Chief Executive Officer in the form of Kevin Tan. The appointment of a new CEO is almost always a major development for any company and it is now going to be interesting to see if the stock garners any attention from investors over the course of the coming days or not.
However, that was not all. In addition to the promotion of Tan to the post of CEO, Bonanza Goldfield also announced two more key appointments. Joshua Chu, who is one of the leaders in the legal and financial technology industry, was appointed as the new CRM at Bonanza Goldfield. On the other hand, Marsella Chang was made the new PR Director. These are all major appointments and had been made at a time when Bonanza Goldfield is embarking on a crucial stage of its development as a company.
The flagship project of Bonanza Goldfield, the remake license DOTs had managed to clock more than $2 million in revenues since it had been launched a month ago. The new executives are now going to be responsible for steering the ship as Bonanza Goldfield seeks to boost the revenues further from that particular project.
In this situation, it could be a good idea for investors to actually have some idea about the credentials of the new CEO in order to make their minds up about the appointment one way or another. Tan has garnered a reputation through the course of his career for being a leader who has been laser-focused on results.
More importantly, he holds an enviable track record of transformation and considerable boost with regards to productivity and operational efficiency at an organization with which he has worked. It now remains to be seen if he can replicate the same during his time as Bonanza Goldfield CEO.
Key Quote
Kevin Tan, commented: ” Businesses profitability does not have to come at the expense of the environment. I hope that during my tenure as the CEO, I am able to take Marvion into the future as a leading global technology company by responsibly adopting and implementing Web3 technologies to disrupt the media and entertainment industry. Through such adoption and implementation, Marvion hopes to enhance efficiency and improve productivity for industry players, and to create new experiences in media and entertainment consumption for consumers.”
Technical Data
BONZ stock is trading below the 20-Day and 50-Day Moving averages of $0.0027 and $0.0031 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0062. The company has a total market capitalization of $4.67 million. The stock is down 37% over the past 6 months.
