Royal Road Minerals Limited (OTCMKTS:RRDMF) Stock In Focus After Recent Development
Shares of Royal Road Minerals Limited (OTCMKTS:RRDMF) have been trading within a narrow range. The stock has lost 13% in the past month.
Trading Data
On Tuesday, RRDMF stock ended flat at $0.2242 with more than 41k shares traded, compared to its average volume of 37k shares. The stock has moved within a range of $0.2242 – 0.2242 after opening trading at $0.2120.
Key Details
CEO Tim Coughlin confirmed that along with the nearby Margaritas gold project it’s evident that the company is defining an underexplored and fresh copper-gold district in the Middle Cauca region.
The firm said that drill GUI-DD-011 demonstrated 17.9m at 0.9 g/t gold. Royal Road Minerals Limited (OTCMKTS:RRDMF) has confirmed results from the first three drill holes of the current drilling program at the Guintär copper-gold project in Antioquia Department, Colombia.
Royal Road CEO Tim Coughlin said that these are exciting initial results from the Guintär project.
The CEO said that these are products of careful geological work harnessing the existing geochemical database for providing vectors into a potential source of ten square kilometers of alteration and mineralization.
Coughlin said that along with Margaritas gold project, located about four kilometers to the southeast of Guintär, it appears that a new and underexplored copper-gold district in the Middle Cauca region.
The project is Guintär-Niverengo and Margaritas project area, comprising of two contiguous Guintär and Niverengo concession contracts as well as neighboring Margaritas concession contracts in Middle Cauca Valley.
GNM area will be subjected to Strategic Alliance agreement between the firm and Mineros S.A, currently owning 25% interest. It may acquire an additional further 25% interest by providing a balance of an extra US$1.5 million in exploration funding.
Technical Data
RRDMF stock is trading above the 10-Day and 20-Day Moving averages of $0.2172 and $0.2227 respectively. However, the stock is trading below the 200-Day moving average of $0.2557. The stock is up 10% in the past month.
