Pancontinental Resources Corporation (OTCMKTS:PUCCF) Stock Pulls Back Slightly On Profit Booking
Shares of Pancontinental Resources Corporation (OTCMKTS:PUCCF) pulled back a bit on Friday after the recent jump. The stock is up 55 in the past week.
Market Stats
On Friday, PUCCF stock lowered by 3.03% to $0.0815 with 10k shares, compared to its average volume of 18k shares. The stock has moved within a range of $0.0815 – 0.0815 after opening trading at $0.0815.
Pancon Receives Final Payment from Sale of Ontario Properties
Canadian junior mining company exploring the rich and underexplored Carolina Slate Belt in the southeastern USA, Pancontinental Resources Corporation (OTCMKTS:PUCCF), on December 31, 2021, announced receiving the final payment of about $200,000 from Voltage Metals Inc. This is pursuant to the purchase agreement dated June 20, 2020, which was altered on March 1, 2021, between the Company and Voltage, where the firm gave Voltage the option for the acquisition of 100% of its four mineral projects, St. Laurent, Montcalm, Nova and Gambler, located in Ontario, Canada.
Pancontinental Resources confirmed that the option has been completely exercised and Voltage owns 100% interest in the Property. Furthermore, the firm announced granting about 3,730,000 options to buy common shares in the capital of the Company exercisable at a price of $0.20 per Common Share for about five years to some directors, officers, and consultants of the firm.
Common shares issuable on exercise will be subjected to a four-month hold period from the original date of grant.
Pancon in January 2020 had won the exclusive right for exploring and purchasing former Brewer Gold Mine property with an option period through October 2023.
Brewer had done production of 178,000 ounces of oxide gold from 1987-1995 extending to 65-meter depths, where gold and copper sulphides were exposed. The company’s 100%-owned, 1,960-acre JeffersonGold Project almost surrounds the 1,000-acre Brewer property.
Traders Corner PUCCF stock is trading below the 50-Day and 100-Day Moving averages of $0.0908 and $0.0980 respectively. However, the stock is trading below the 200-Day moving average of $0.1148.
