Tsodilo Resources Limited (CVE:TSD) (TSDRF) Stock Continues to Move Higher: Time To Sell Or Hold?

Tsodilo Resources Limited (CVE:TSD) (OTCMKTS:TSDRF) stock is moving up in the opening session on Monday, extending its monthly gain to 63%.

Major Trigger:

Tsodilo Resources Announces BK16 Update: Renewal of Prospecting License and Commencement of Phase II Evaluation

Key Highlights:

• Tsodilo Resources announced that the Ministry of Mineral Resources, Green Technology and Energy Security (“MMGE”) in Gaborone, Botswana has granted the renewal of Prospection License 369/2014 for a two-year period commencing October 1, 2021. The license area contains the Company’s BK16 kimberlite project
• The diamondiferous BK16 kimberlite pipe is located within the Orapa Kimberlite Field (“OKF”) in Botswana and contains rare and valuable Type IIa diamonds. BK16 is located 37 kilometers (km) east-southeast of the Orapa Diamond Mine AK01, 25 km southeast of the Damtshaa Diamond Mine, and 13 km north-northeast of the Letlhakane Diamond Mine, all operated by Debswana and 28 km east-northeast from Lucara Diamond Corporation’s Karowe Mine (AK6). The OKF has produced such notable diamonds as the 1,109 carat ‘Lesedi La Rona’ and the 813 carat ‘Constellation’ from Lucara Diamond Corporation’s Karowe (AK6) mine.

Key Quote:

Tsodilo’s Chairman and CEO, James M. Bruchs, commented “We are pleased that the MMGE has renewed the BK16 license which will allow us to move into our Phase II evaluation program which will be a surface bulk sample of 20,000 tonnes of kimberlite which will enhance the work already undertaken and increase confidence in the value of the diamonds and grade as we move closer to developing this asset.”

Market Reactions  

As of 10:06, TSD stock jumped by 14% at C$0.74. Total volume so far stood at 23k shares, compared to its average volume of 43k shares.  The stock moved within a range of C$0.7200 – 0.7400 after opening at C$0.72.