Forum Energy Metals Corp (OTCMKTS:FDCFF) Stock Jumps 18% in a Week: But Why?
There are many investors who are increasingly getting interested in the mining sector in recent days and if you are looking into stocks from the sector today it might be difficult to overlook the Forum Energy Metals Corp (OTCMKTS:FDCFF) stock.
Market Stats
On Monday, FDCFF stock fell 2.78% at $0.3111 with more than 1.80 million shares, compared to its average volume of 580.48K shares. The stock has moved within a range of $0.3080 – 0.3360 after opening the trade at $0.3200.
Provides Update and Plans for 2022
Over the course of the past week, the stock has come into sharp focus among investors and ended up with gains of as much as 18%. As it happens, the company was in the news yesterday as well after it provided an update to its shareholders with regards to the revisions to its exploration plans at two of its projects.
The first project is the one at Saskatchewan, where the company is going to explore for palladium, nickel, uranium and copper. The second project is the cobalt project located in Idaho. The company announced on Monday that URANIUM PROJECTS Wollaston Forum made its submission with regards to the permit for starting a drilling program pegged at 3000 metres at the projects.
The drilling program is expected to commence at some point in January of next year. The announcement is a significant one from the company and may have led to considerable excitement among investors.
Key Quote
Rick Mazur, P.Geo., Forum’s President & CEO and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
*The Maurice Bay historical resource estimate was completed prior to the implementation of National Instrument 43-101. Given the extensive exploration work completed by experienced mineral resource companies, and the quality of the historical work completed, the Company believes the historical estimate to be relevant and reliable. However, a qualified person has not completed sufficient work to verify and classify the historical estimate as a current mineral resource, and the Company is not treating the historical estimate as a current mineral resource. Hence, the estimate should not be relied upon. It should be noted that mineral resources, which are not mineral reserves, do not have demonstrated economic viability.
Traders Corner
FDCFF stock is trading below the 50-Day and 50-Day Moving averages of $0.34 and $0.36 respectively. However, the stock is trading above the 200-Day moving average of $0.31. The stock is up 22% in the past week.
