Why Did This Gold Stock Jump 31% Yesterday?
Source: Streetwise Reports
September 9, 2022 (Investorideas.com Newswire) Click here to find out what led to the jump in Reyna Gold Corp.'s stock.
Earlier yesterday at 8:53 EST, Reyna Gold Corp. (REYG:TSX.V; REYGF; OTCQB), an exploration company focused on projects in Mexico, announced new drill results.
The results came from 22 drill holes totaling 3,823 meters from its 10,000-meter drill program on its 24,215-hectare La Gloria property in Sonora, Mexico.
Drill hole LG-22-30 revealed 59.0 meters of 1.45 grams per tonne gold (1.45 g/t au) from 1.2 meters to 60.2 meters at La Republicana target, including 0.80 meters of 21.5 g/t Au and 29.7 g/t silver and 0.70 meters of 19.5 g/t Au and 168 g/t Ag.
Drill hole LG-22-028 revealed 5.5 meters of 935 g/t silver (Ag) from 1.5 meters to7 meters at Big pit (the main zone), including 1.0 meters of 4,640 g/t Ag and 0.93% copper.
So far, 30 holes (4,633 meters) of the planned 10,000 meters of Phase 1 drilling have been completed. Reyna Gold is now halting drilling as a geological study is being undergone. Drilling is set to recommence from mid-September to late this month.
Later that morning, at 10:30 EST, asset manager and full-time newsletter writer of "What Is Chen Buying? What Is Chen Selling?" Chen Lin spoke on Reyna Gold Corp. He touched on its latest drill results at its La Gloria property.
Lin stated, "The company believes they are connected with gold at one end and silver/copper at the other end! This looks like a very exciting discovery; the upside is big."
He also noted that Reyna Gold would be presenting on his panel at the Metal Investors Forum this weekend.
You can see the impact of Lin's coverage and yesterday morning's news release on the chart below:
Source: Stockwatch.com mobile app.
Reyna Gold last closed at CA$0.17 on September 7, 2022, after an open of CA$0.13. The company has a market cap of CA$18.19 million, 66,756,221 shares outstanding, and trades in the 52-week range between CA$0.12 - CA$0.46. It is currently trading at around CA$0.17 per share.
1) Katherine DeGilio wrote this article for Streetwise Reports LLC. She or members of his household own securities of the following companies mentioned in the article: None. She or members of his household are paid by the following companies mentioned in this article: None.
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