Western Copper and Gold Corporation (NYSEAMERICAN:WRN) Stock Continues to Trend Higher: Here is Why
Western Copper and Gold Corporation (NYSEAMERICAN:WRN) is up 7% in a month. The company announced its 2021 drilling and exploration program at the Casino Copper-Gold Projects and the official launch of the project’s feasibility study.
Market Stats
On Friday, WRN stock fell 3.66% at $1.58 with more than 974k shares, compared to its average volume of 390k shares. The stock has moved within a range of $1.4900 – 1.6410 after opening the trade at $1.64.
Provides Update and Launches Feasibility Study at Casino
The exploration and development program for 2021 was established with Rio Tinto’s input, as stipulated within the Investor Rights Agreement and Subscription Agreement, signed as part of Rio Tinto Canada’s investment in Western Canada as [per the May 17, 2021 release. The Program’s field component was finished on September 30, 2021.
The company has finalized geotechnical drilling and metallurgical work with diamond drilling of around 1,001.3m large-diameter core completed in 3 holes for amenability testing for mineralization to resource processing. Equally expected mineral confirmation drilling has been finalized with five holes drilled of around 1,484.1m in total to establish mineralogical and lithological settings of the claims. Exploratory diamond drilling that comprises 1,634.7m in six holes has been completed with the holes targeting peripheral Deposit areas. So in the coming weeks, WRN is worth watching.
Key Quote
“We are pleased that the work program that we developed with input from Rio Tinto is going smoothly – we have completed the field program and are now moving on to the metallurgical program.”, said Paul West-Sells, President and CEO. “We are equally excited to launch a Feasibility Study on the Casino Project. This will build on the PEA released earlier this year and provide a foundation for permitting and other activities as we move the Casino Project forward.”
Traders Corner
WRN stock is trading below the 20-Day and 50-Day Moving averages of $1.67 and $1.65 respectively. Moreover, the stock is trading below 200-Day moving average of $1.68. The stock is up 9% in the past month.
