Xtra Energy Corp. (OTC:XTPT) Stock on Watchlist After Latest Development

This morning, investors are expected to look into the stocks of those companies that may have come into the news cycle on Wednesday, and one such company could be Xtra Energy Corp. (OTC:XTPT). The company came into focus yesterday after it announced that there had been confirmation of the 100% XTPT mineral rights that had been obtained at the historically significant King Solomon Antimony Mine. The mine in question is located at Bernice Canyon in Nevada.

The company noted that it had conducted thorough and intense research over a number of weeks through its exploration team, both at the country recording office and on the ground. Steven Cyros, the head of the exploration team, confirmed the company’s sole interest in the past-producing mine. It was further noted that the IHX Mine, also owned in its entirety by Xtra Energy Corp., and the King Solomon Mine had been used interchangeably in the district throughout history.

The Chairman and Chief Executive Officer of Xtra Energy Corp., Mac J. Shahsavar, spoke about the latest developments as well. He stated that the discovery was going to help the company take a more aggressive approach to processing the stockpiles that had been forgotten at the King Solomon Mine and the Arrance Antimony Prospect. Those stockpiles would help generate income for the company so that it could finance the completion of the American Antimony Project.

He went on to note that antimony prices had hit record levels and that there was demand at close quarters for the mineral that the company would be producing. Hence, it was important for Xtra Energy Corp. to cash in on the opportunity. The company is currently best known for its work on the development of its American Antimony Project. It may be a good time to keep an eye on the stock.