Enertopia Corporation (OTCMKTS:ENRT) Stock Soars After Sale of Clayton Valley Lithium Project
Enertopia Corporation (OTCMKTS:ENRT) is involved in a variety of industries, starting from green technology and intellectual property and also owns Lithium claims in the state of Nevada. Yesterday, the Enertopia stock was in the middle of a strong rally and ended the day with gains of as much as 28% amidst heavy interest.
Market Stats
On Thursday, ENRT stock soared 26.50% to $0.0457 with 35.2K shares, compared to its average volume of 226K shares. The stock moved within a range of $0.0412 – 0.0459 after opening trading at $0.0420.
Enertopia Corporation Announces Sale of Clayton Valley Lithium Project
On Thursday, the company provided an update and that resulted in the rally in the stock. The company noted yesterday that it had been successful in signing all the necessary closing documents for the sale and transfer of its unpatented mining claims in Clayton Valley.
In addition to that, the residual amount of $1,050,000 had also been received by Enertopia and on top of that, the 3000,000 Cypress Development Corp shares had also been issued as per the order of the Treasury. The company noted that the operation is expected to be a mutually beneficial one for both Cypress as well as Enertopia shareholders.
At this point in time, it is going to be interesting to see if the rally in the Enertopia stock continues or not. It may be a good idea for investors to add the stock to their watch lists at this point.
Key Quote
“The Company thanks the shareholders for their overwhelming support of the asset sale and we look forward to the next steps as we all move forward.” stated President and CEO, Robert McAllister.
Traders Corner
ENRT stock is trading below the 20-Day and 50-Day Moving averages of $0.0429 and $0.0445 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0539.
