C2C Gold Corp (OTCMKTS:CTCGF) Stock Takes a Hit: Falls 9%

Although it is true that C2C Gold Corp (OTCMKTS:CTCGF) made a key announcement on Thursday, it was not met with any kind of enthusiasm by investors and the stock suffered from a selloff as it ended the day with a decline of as much as 9%.

Market Stats

On Thursday, CTCGF stock slid 9.23% to $0.1770 with more than 3.01K shares, compared to its average volume of 30K shares. The stock has moved within a range of $0.1761 – 0.1770 after opening trading at $0.1761.

Commences Trenching Program at the Lake Douglas Gold Project, Newfoundland

The company announced that it launched an excavator trenching initiative at the Lake Douglas property it controls. The property is situated in the Central Newfoundland Gold Belt. Although the stock fell, it should be noted that it was a significant development for the company and it is something that investors could consider keeping an eye on.

The excavator initiative was launched by the company after it had conducted successful prospecting, geological mapping and rock sampling initiatives. The Lake Douglas property controlled by the company is situated in an area that is also a part of the Valentine Lake Shear Zone and is on strike in relation to the Valentine Gold Project.

Despite the sharp selloff in the stock yesterday, it may be a good idea for investors to add the stock to the watch lists and keep an eye on the key developments with regards to the Lake Douglas property in the coming days.