Kodiak Copper Corp (OTCMKTS:KDKCF) Stock Jumps After Project Update
One of the stocks that could be on the radars of investors this morning is that of Kodiak Copper Corp (OTCMKTS:KDKCF) after it ended up with gains of as much as 4% on Monday.
Trading Data
On Monday, KDKCF stock moved up 3.96% to $0.7300 with more than 15.73K shares, compared to volume of 25.32K shares. The stock moved within a range of $0.7032 – 0.7300 after opening trade at $0.7032.
Kodiak Discovers New Gold-Silver “Beyer Zone” at MPD Project within 2.2 Kilometre Gold-in-Soil Trend
The company announced yesterday that it had been successful in discovering a new gold-silver ‘Beyer Zone’ at its MPD project, which is owned in its entirety by Kodiak Copper. The MPD project is a copper-gold porphyry project that is situated in the southern part of British Columbia. The trenching that had been done by the company at the Beyer Zone was actually part of the company’s wider exploration initiative for the purpose of discovering untested copper-gold targets at the aforementioned property.
The work that had been done at the property had been done in conjunction with the 25000 fully funded drilling program. It should be noted that additional results from the said drilling program are going to be continued to be reported by Kodiak Copper in the coming period. The latest development with regards to the gold-silver discovery was a major new development for the company and an exciting one, as per its Chief Executive Office and President Claudia Tornquist.
Key Quote
Claudia Tornquist, President and CEO of Kodiak, said, “The Beyer gold-silver discovery is an exciting new development as it sits within a multi-kilometre, completely untested new gold-in-soil trend. It is remarkable because this is the first time sizable intervals of high-grade gold-silver mineralization have been trenched at the MPD project. Mineralization and alteration are open along strike, making extension of these trenches an obvious follow-up for 2023. The Beyer discovery is a testament to the outstanding prospectivity of the MPD Project and adds new upside and value creation potential for our shareholders.”
Technical Data
KDKCF stock is trading above the 20-Day and 50-Day Moving averages of $0.62 and $0.51 respectively. However, the stock is trading below the 200-Day moving average of $0.87.
