Sidney Resources Corporation (OTCMKTS:SDRC) Stock On Watchlist After Recent News

It was not a particularly great day in the markets for investors in Sidney Resources Corporation (OTCMKTS:SDRC) as the company’s stock suffered from a selloff and went down by as much as 5% amidst downward pressure. That being said, it should also be noted by investors that the company had made a fairly positive announcement yesterday.

Trading Data

On Thursday, SDRC stock decreased 4.63% to $0.1235 with more than 151.51K shares, compared to its average volume of 187.12K shares. The stock moved within a range of $0.1115 – 0.1330 after opening trade at $0.1330.

Sidney Resources Corporation Announces It Has Expanded Exploration Efforts Beyond the Lucky Ben Claim in the Historic Warren Mining District of Idaho

The mineral exploration and development company announced that it had decided to expand the exploration operations beyond its Lucky Ben Mine. It was noted that the development and exploration operations had been expanded to as much as 20 more acres of private property. In addition to that, the expansion also included an unpatented claim at the Arlise Mine.

On the other hand, the preliminary sampling that had been conducted at the Arlene vein by Sidney Resources Corporation revealed that assay results with averages of 18.66 g/t gold and 179.2 g/t silver. The company has also made plans for proving the downward dip at the Arlene vein. However, that is going to be part of a diamond drilling program that is going to be kicked off at some point this year. However, it should be noted that the program will only take place this year if weather permits. 

Technical Data  

SDRC stock is trading below the 20-Day and 50-Day Moving averages of $0.15 and $0.16 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.17. The company has a total market capitalization of $11.