Although the company provided a fairly positive update yesterday, it did not lead to any boost for the Bunker Hill Mining Corp (OTCMKTS:BHLL) stock as it ended up with a decline of as much as 4% for the day. The company came into focus yesterday after it made an announcement with regard to updates pertaining to the restarting of project work for the month of August 2022.
Trading Data
On Wednesday, BHLL stock slumped 3.97% to $0.0966 with more than 11.70K shares, compared to its average volume of 87.80K shares. The stock moved within a range of $0.0951 – 0.1000 after opening trade at $0.0965.
Bunker Hill Provides August 2022 Project Restart Update
The Chief Executive Officer of the company Sam Ash spoke about the matter. He noted that the project activities had continued at a good pace during the month of August. He went on to add that the main achievement during the month was that Bunker Hill managed to demobilize its mill to the Bunker Hill site from Pend Oreille.
However, that was not all. He went on to add that although the restarting of the project activities was a significant development for the company, everyone at Bunker Hill was also excited about the Prefeasibility Study that was going to be released over the coming days. The study is going to provide a good idea about the sort of work that is still going to remain so as to hit commercial production levels.
Key Quote
Sam Ash, CEO stated: “Project activities continued at pace in August, with a highlight being the completion of demobilization of our mill from Pend Oreille to the Bunker Hill site – achieved safely, ahead of schedule, and on budget. While we continue to progress restart activities on the ground, we are also excited for the upcoming release of our Prefeasibility Study results in the coming days, which will inform the remaining work required to reach commercial production at the Bunker Hill Mine.”
Technical Data
BHLL stock is trading below the 20-Day and 50-Day Moving averages of $0.1120 and $0.1280 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.2008.
