New World Corporation (NWGC) Stock Attempts To Recover After The Correction

If you are currently looking into gold stocks then it could be the right time to perhaps take a closer look at the New World Corporation (OTCMKTS:NWGC) stock. The stock has come into considerable focus among investors and this past Friday, it recorded gains of as much as 9%.

There was no news about the company on Friday but the rally in the stock was possibly triggered by additional information provided by the company in relation to a June 18 press release on July 16. The original press release provided an update with regards to New World Gold’s interest in a placer claim spanning 160 acres located in Pennington County in South Dakota.

In the latest announcement, New World Gold provided information with regards to the chain of custody that the company managed to establish in order to verify the above mentioned placer claim.

However, on June 14 mining consultants Burgex Mining Corporation updated New World Gold regarding the fact that engagement in relation to the claim was being cancelled and the payment was going to be returned in full. New World Gold has contacted other mining consultants regarding the verification of the claim and is awaiting response as per the update on July 16.

Market Reaction:

On Friday, NWGC stock went up 9% at $0.0043 with more than 77.22 million shares, compared to its average volume of 109.91 million shares. The stock has moved within a range of $0.0037 – 0.0044 after opening the trade at $0.0038. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.0367.

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