Although Silver Bullet Mines Corp (OTCMKTS:SBMCF) had made a major announcement yesterday about two key achievements, investors did not quite seem elated and the stock went down by as much as 18% as a consequence.
Trading Data
On Thursday, SBMCF stock lost 18.36% to $0.1450 with more than 18.50K shares, compared to volume of 4.31K shares. The stock moved within a range of $0.1450 – 0.1560 after opening trade at $0.1560.
Silver Bullet Mines Corp. Begins Processing of Higher Grade Ore
In case of such a decline, it may be a good idea for investors to take a closer look and then figure out if the stock could make recovery any time soon. Silver Bullet announced yesterday that it started processing high-grade iron ore at the mill that it owns in its entirety. In addition to that, that company also managed to sign its first contract for delivering silver dore bars.
Both were significant developments for the company and could lead to a long-term boost as well. The Chief Executive Officer of company A. John Carter spoke about the latest development as well. He stated that both were significant milestones for the company as it tries to turbocharge its growth.
He noted that the iron ore mill construction had started less than a year ago and the company was already started extracting high-grade iron ore from the Buckeye Silver Mine. It is going to be interesting to see if the stock bounces back today.
Key Quote
“These are major milestones in the Company’s growth,” said A. John Carter, SBMI’s CEO. “In less than a year after starting construction of our mill, we are processing the higher grade material extracted from our Buckeye Silver Mine and we have signed our first contract to deliver silver out of that mine. This is outstanding work from everyone on the team.”
