New Jersey Mining Company (OTCMKTS:NJMC) Stock Attempts To Rebound After The Recent Fall
New Jersey Mining Company (OTCMKTS:NJMC) stock was in focus as the stock ended higher on Tuesday after the recent slump. The stock has lost 175 over the past month.
Market Action
In the previous trading session, NJMC stock gained 3.50% to $0.30. A total of 289k shares traded for the session hands, well above its average volume of 123k shares. The stock opened at $0.3045 and moved in a range of $0.2968 – 0.3050.
Key Trigger
New Jersey Mining Co. Provides YTD 2021 Highlights from Golden Chest Production Expansion Drill Program
New Jersey Mining Company released a comprehensive year-to-date update from its on-going 2021 core drill program at the Golden Chest mine. Most of the drilling targeted exploration and pre-development in areas lying to the north and south of current underground mining operations. The areas of focus include the Joe Dandy and Paymaster located south, and the Klondike located north of existing infrastructure in the Skookum.
In the first two months of 2021, a drill contractor and the company’s own core rig were employed to expedite exploration efforts in these relatively underexplored areas. By mid-June the New Jersey core rig began drilling 24 hours a day; and continues to do so. As of the end of third quarter NJMC has completed 25 diamond core holes totaling 6,507 meters. Of these 25 core holes, 20 holes have been geologically evaluated and geochemically analyzed, with 5 core holes on deck.
Trader Notes:
NJMC stock has outperformed recently with a fall of over 15% in the past 6-month. On the technical basis, the stock is trading below its 50-day and 200-Day SMA stand at $0.32 and $0.31 respectively. Moreover, RSI at 40 signals that the stock is trading near an oversold zone.
