New World Gold Corporation (NWGC) surged 52% last week: Here is Why

New World Gold Corporation (OTCMKTS:NWGC) surged 52% last week after it officially acquired a placer claim located in southwest South Dakota. It acquired the 160 Acre Placer Claim located in the southwest region of the state in Pennington County, intersecting three small tributaries.

The property sits on Federal Land and Mineral claims and will be licensed via Rock Creek mining & Exploration Co., the company’s wholly-owned subsidiary. In addition, the company has retained Burgex Mining Consultants to carry soil sampling, who will also be responsible for recording and staking of claim rights, XRF readings, and aerials surveys.

The stock has been making moves in recent weeks following a slight drop below the $0.01 level. Recently the company announced the appointment of a new management team. Besides the South Dakota placer claims, the company had already acquired an 80 Acre Placer Claim located in Fremont County in Wyoming. Results indicate several trace elements of valuable elements, including lithium and gold. So, NWGC’s stock is to keep an eye on.

Market Reaction:

On Friday, NWGC stock slumped 14.50% at $0.0088 with more than 151.43 million shares, compared to its average volume of 110.70 million shares. The stock had moved within a range of $0.0072 – 0.0104 after opening the trade at $0.0103. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.0367.

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