This morning it is quite likely that the Sidney Resources Corporation (OTCMKTS:SDRC) is going to come on to the radars of investors after it made a key announcement yesterday. The company, which is based out of Idaho and involved in the development of environmentally responsible mining technology, announced that it had completed its Environmental, Social and Governance, (ESG) policy statement.
Trading Data
On Monday, SDRC stock jumped 1.67% to $0.1398 with more than 56.38K shares, compared to volume of 182.25K shares. The stock moved within a range of $0.1350 – 0.1398 after opening trade at $0.1375.
Sidney Resources Corporation Announces Completion of Environmental, Social and Governance, (ESG) Policy Statement
The company went on to provide details with regards to some of its products which could revolutionise the mining sector. One of the products that the company spoke about yesterday was its laser-based unit. Sydney Resources noted that the laser-based unit is meant for protecting the environment through reducing the use of explosives and water in case of drilling, stoping and tunnelling.
The laser-based unit is going to be tested next year at the Colorado School of Mines. However, perhaps more importantly, the company also noted that its engineers had pointed out that the use of the technology could cut down the costs of mining operations by as much as 40%. Hence, it could lead to more opportunities for Sydney Resources once the technology is released commercially. It may be a good idea to keep an eye on further developments.
Technical Data
SDRC stock is trading below the 20-Day and 50-Day Moving averages of $0.14 and $0.15 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.16.
