One of the companies that investors could consider tracking at this point in time is Buscar Company (OTCMKTS:CGLD). It is a junior-level exploration company that is involved in unlocking the value of its shareholders through numerous activities.
Market Stats
On Tuesday, CGLD stock was down 11.63% to $0.0380 with 1.8K shares, compared to its average volume of 28K shares. The stock moved within a range of $0.0380 – 0.0430 after opening trading at $0.0430.
Those activities include the discovery of minerals, leveraging the considerable technical knowledge that its team possesses, and being successful at identifying around two to three projects every year. At this point in time, Buscar operates projects located in the state of Nevada and California. It should however be noted that it is also working on changing its name to EON discovery soon.
Now that you have a fair idea about the nature of the company and its business, it may be a good time to take a look at some of the recent developments which may have an impact on the stock. Back on August 23, Buscar was in the news after it announced that it had been successful in expanding the extent of its mineral rights claims by as much as 800% over the course of the previous 12 months. That was a major new announcement from the company and one that may have come as a source of significant optimism among investors.
However, that is not all. Buscar also announced that it had managed to expand its mining operations in the state of Nevada by staking as many as 10 new claims in the state. The 10 claims in question are the initial acquisitions made by the company in the state.
However, it should be noted that those claims make up a part of the 3000 acres worth of expansion that Buscar is planning in the state. The company is looking to acquire more claims in the state in order to hit its desired target. It may be a good time to keep the stock on your watch lists.
Traders Corner
CGLD stock is trading below the 50-Day and 200-Day Moving averages of $0.0421 and $0.0519 respectively. Moreover, the stock is trading below the 20-Day moving average of $0.0879.
