St-Georges Eco Mining (SXOOF) Stock Moves in a Tight Range: What to do Now?
On Monday, the St-Georges Eco Mining Corp (OTCMKTS:SXOOF) stock emerged as a notable mover after the company made a key announcement with regards to a key final option agreement.
The company announced that it closed the agreement that will now allow St-Georges Eco Mining to get hold of the building and the land for its planned electric vehicle battery recycling plant. The plant in question is located at the seaport named Baie-Comeau at Quebec North Side. The news came as a major boost for the St-Georges Eco Mining stock yesterday and it ended the day with gains of 3%.
In this sort of situation, it might be a good move from investors to perhaps keep a close eye on the stock this week. On the other hand, it is also necessary to keep in mind that back on April 19 this year, St-Georges Eco Mining had also sent out a press release in which it revealed that a binding term sheet had been inked in relation to this plant.
More importantly, the reviews of the plant and engineering reviews have also revealed that there no need to go for any sort of major overhaul. That is another significant positive for St-Georges Eco Mining.
Market Reaction:
On Monday, SXOOF stock gained 2.61% to $0.2835 with more than 1.45 million shares, compared to its average volume of 473k shares. The stock has moved within a range of $0.2746 – 0.3296 after opening the trade at $0.30 Over the past 52-week, the stock has been trading within a range of $0.0290 – 0.9900.
