It was not a particularly great day in the markets for investors in the company Joshua Gold Resources Inc (OTCMKTS:JSHG) as the company’s stock suffered from a selloff and went down by as much as 7% for the day. Considering the magnitude of the decline suffered by the stock, it could well be a good time now for investors to figure out if it might make a recovery.
Trading Data
On Thursday, JSHG stock fell 7.08% to $0.0131 with more than 30K shares, compared to a volume of 129K shares. The stock moved within a range of $0.0131 – 0.0158 after opening trade at $0.0158.
JSHG Acquires The Champion Gold Mine
Despite the fall in the stock price, it ought to be mentioned that yesterday Joshua Gold announced that it had been successful in completing the acquisition of the Champion Mine.
The mine in question is situated in the Kenora area at the Haycock Township in the Northwestern Ontario region. Joshua Gold managed to acquire the silver and gold mine at the site. It should also be noted that Joshua Gold had taken hold of the contiguous mines in the area as well. Since the owner of the patent had defaulted on taxes and hence, the mine came under the complete ownership of Joshua Gold. At this point in time, it now remains to be seen if the stock can manage to make a move in the coming days.
Key Quote
Fred Sharpley, P.Geo, QP (Qualified Person) describes the Champion Mine’s geology: “The Haycock Gold Property consists of northeast-trending Island Lake Quartz Diorite and mafic volcanics to the south.
Technical Data
JSHG stock is trading below the 20-Day and 50-Day Moving averages of $0.0144 and $0.0132 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0213. The company has a total market capitalization of $2.04 million. The stock is down 19% over the past month.
