On Wednesday, Sidney Resources Corporation (OTCMKTS:SDRC) was in the news after the company made an announcement with regards to the Lucky Ben Project located at Warren in Idaho. While the announcement was an important one, the investors did not seem to like it that much and the stock went down by as much as 3% amidst a selloff.
Trading Data
On Wednesday, SDRC stock fell 3.24% to $0.1790 with more than 139.48K shares traded, compared to volume of 231.66K shares. The stock moved within a range of $0.1770 – 0.1860 after opening trading at $0.1820.
Latest News
The company announced that Liberty Refiners was going to work on the completion of a testing process at the project in which it will be tested for rare earth metals and other related highly valuable metals. Yesterday, the company released the initial report that had been submitted by Liberty Minerals.
In the initial report, there were encouraging results with regards to gold, silver and rare earth metals at the Lucky Ben Project. The project had historically produced gold and the initial testing revealed that gold of very high grade was available.
While silver and gold were found in each and every assay, the testing also revealed the presence of Manganese. It goes without saying that the findings from the initial report were positive and it now remains to be seen if the Sidney Resources stock can gain any sort of traction from among investors.
Technical Data
SDRC stock is trading above the 20-Day and 50-Day Moving averages of $0.16 and $0.15 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.18. The company has a total market capitalization of $16.30 million.
