EXLA Resources Inc. (OTCMKTRS:EXLA) Stock Extends Fall: Down 35% In a Week

February 28, 2022February 28, 2022 Madison Hall $EXLA, $EXLA news, $EXLA Resources Inc. (OTCMKTRS:EXLA), $EXLA stock, $OTCMKTRS:EXLA

EXLA Resources Inc. (OTCMKTRS:EXLA) fell 4% and 35% last week. The company has reached an agreement to sell its stake in the Silver Strike Project in Arizona’s Tombstone mining district to Tarku Resources Ltd. (OTCMKTS:TRKUF).

Market Stats

On Friday, EXLA stock fell 4.35% to $0.0110 with more than 2.67 million shares, compared to its average volume of 1.09 million shares. The stock moved within a range of $0.0101 – 0.0120 after opening trading at $0.0120.

EXLA Resources Leverages Asset Base with Sale of Its Silver Strike Interest

EXLA will get 7 million Tarku shares in exchange, giving it a 9.65% stake in Tarku. The company now consolidated ownership in the projects with a dedicated partner focusing on advancing the project. EXLA is still exposed to the potential of Silver Strike getting advanced, but it is not obligated financially. Tarku’s intriguing Three A’s Project, situated in the Matagami Greenstone Belt, is also exposed to EXLA.

EXLA now has considerable exposure to a combined 100 percent of the Silver Strike Project and a committed exploration partner dedicated to its development, according to this new arrangement. As a result, Tarku has reduced its acquisition obligations and will have more control over its exploration costs. The combined ownership will also make future capital raising efforts much easier. So, in the coming weeks, EXLA is worth watching.

Key Quote

Julien Davy, President, and CEO of Tarku, stated: “This new agreement is a win-win solution, as EXLA now benefits from significant exposure to a consolidated 100% of the Silver Strike Project, as well as a focused exploration partner committed to its development. Tarku has lowered its commitments to acquire the project and will have better control on its exploration expenses. The consolidated ownership will also greatly facilitate capital raising initiatives going forward.”

Traders Corner

EXLA stock is trading above the 20-Day and 50-Day Moving averages of $0.0154 and $0.0159 respectively. The stock is trading in neutral zone with the RSI at 38.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.