Amarillo Gold Corporation (OTCMKTS:AGCBF) (TSXV:AGC) Stock In a Range After Key Updates
Amarillo Gold Corporation (OTCMKTS:AGCBF) (TSXV:AGC) is moving in a range after the company announced results of the year ending December 31, 2021, in which it attained several milestones. The company’s CEO, Mike Mutchler, stated that they had a fruitful year advancing the Posse Gold Project that caught Hochschild Mining’s interest.
Market Stats
On Friday, AGCBF stock gained 0.03% to $0.3191 with more than 19K shares, compared to its average volume of 81K shares. The stock moved within a range of $0.3191 – 0.3277 after opening trading at $0.3277.
A year of exploration and development success for Amarillo
Mutchler explained that the precious metals mining company will be the ideal partner to advance the Posse project into production as started in 2201 when the company announced its intended acquisition by Hochschild. Interestingly, the company is looking forward to using the same systematic approach to the Lavras do Sul project vial Lavras Gold Corporation.
In 2021, Amarillo’s premier Posse Gold Project made significant progress, including obtaining the installation License for Posse Gold Mine and the Posse transmission line, acquiring nearly 100% of the property required to construct the mine, and accomplishing over 75% of the entire project comprehensive engineering. Therefore, AGCBF is worth keeping an eye on in the coming weeks.
Key Quote
“We had a good year,” said Mike Mutchler, Amarillo’s Chief Executive Officer. “We continued to develop the Posse Gold Project, which attracted the attention of Hochschild Mining, a leading precious metals Company. As we said late last year when we announced Hochschild’s proposed acquisition of Amarillo, we believe Hochschild is the right company to bring Posse into production, and we’re looking forward to applying the same disciplined approach to our Lavras do Sul property, through Lavras Gold Corp.”
Traders Corner
AGCBF stock is above the 20-Day and 200-Day Moving averages of $0.32 and $0.32 respectively. The stock is trading in the neutral zone with the RSI at 46.