If a stock manages to record substantial gains over the course of a period of one week then it may be a good idea for investors to consider taking an interest in it. By that token, it may be a good time for investors to consider taking a look at the Sidney Resources Corporation (OTCMKTS:SDRC) stock, which had managed to attract significant attention over the past week and managed to clock gains of as much as 12%. Before getting into the details about the latest developments with regards to the company, it may be a good move for investors to consider taking a closer look at its operations briefly.
Trading Data
On Tuesday, SDRC stock moved up 0.37% to $0.1349 with more than 145K shares, compared to a volume of 320K shares. The stock moved within a range of $0.1268 – 0.1396 after opening trade at $0.1344.
About The Company
Sidney Resources is involved in acquiring, developing, and then producing gold and silver properties. At this point in time, Sidney Resources Corporation has interests in the Lucky Ben Mine Group properties which are made up of as many as 3 patented claims. The claims lie across an area totaling as much as 53 acres and on top of that there are 5 unpatented claims as well. The company had been established way back in 1896 and at this point, it is based out of Lewiston in Idaho.
Sidney Resources Corporation Lucky Ben Project Update
As it happens, the company was in the news yesterday after it made a major new announcement yesterday. The company announced yesterday that it had made an agreement with the highly regarded Colorado School of Mines for the testing of its latest laser mining technology. It is part of the company’s larger thrust that is focused on the building of partnerships which specific institutions which are also committed to excellence and have a proven track record.
The Colorado School of Mining had been founded back in 1874 and is regarded as one of the finest institutions for those who wish to specialize in the fields of metallurgy and mining. In addition to that, it should also be noted that the institution has also been committed to innovation in a big way, and hence, the partnership could well prove to be a highly fruitful one for Sidney Resources Corporation. In recent times, the Colorado School of Mines has also expanded its scope in a big way in order to ensure that it could help in serving the needs of the wider society much more meaningfully.
It is also important to note that the testing of the laser mining technology is going to be managed by the company IPG Photonics. In addition to a team from the Colorado School of Miner, a team of engineers from Sidney Resources Corporation are also going to work on the whole thing. It is a development that may have resulted in some positivity with regard to the stock and it now remains to be seen if the Sidney Resources Corporation can manage to hold on to its momentum over the course of the coming days. At this point in time, it could be a good idea to add the stock to your watch lists.
Technical Data
SDRC stock is trading above the 20-Day and 50-Day Moving averages of $0.13 and $0.15 respectively. However, the stock is trading below the 200-Day moving average of $0.19. The company has a total market capitalization of $12.27 million. The stock is down 35% over the past 6 months.
