Blackrock Silver Corp (OTCMKTS:BKRRF) Stock Slumps: Company Issues Resource Estimate

It was a fairly difficult day in the markets for investors in Blackrock Silver Corp (OTCMKTS:BKRRF) on Monday as the company’s stock suffered from a selloff and went down by as much as 23%. In this situation, it may be a good idea for investors to consider taking a look at the development on Monday that led to the selloff.

Market Stats

On Monday, BKRRF stock slumped 22.73% to $0.68 with more than 3.13 million shares, compared to its average volume of 435K shares. The stock moved within a range of $0.6700 – 0.8600 after opening trading at $0.80.

Blackrock Announces Tonopah West Maiden Stope Optimized Resource Estimate; 2.9 Million Tonnes Grading 446 g/t AgEq for 42.6 Million Ounces AgEq

The company came into focus yesterday after it made an announcement with regards to the Maiden Resource Estimate in relation to the Tonopah West project, which it owns 100%. It is located in the Walker Lane trend in the Western part of Nevada.

The Maiden Resource Estimate had been conducted by the company as per the Mining, Metallurgy and Petroleum Definition Standards- For Mineral and Mineral Reserves. It had been adopted back on May 10, 2014.

The Chief Executive Officer and President of the company Andrew Pollard noted that the Maiden Resource Estimate was a major milestone for Blackrock Silver Corp. It signified the reawakening of the one of the biggest silver camps in the United States. However, the milestone did not impress investors much and the stock suffered from an almighty selloff.

Key Quote

Andrew Pollard, the Company’s President and CEO, stated, “Last prominent for the part it played during the era of the Pittman Act and the Peace Dollar, delivery of this maiden resource represents a historic milestone, as one of the great American silver camps has been re-awakened, at a time where silver serves as much more than just currency, but also as a crucial element required for the emerging global electrified economy. “

Traders Corner

BKRRF stock is trading below the 20-Day and 50-Day Moving averages of $0.90 and $0.89 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.76.