Last week the Spey Resources Corp (OTCMKTS:SPEYF) stock emerged as one of the notable movers and ended the week with total gains of as much as 10%. The rally in the stock may have been triggered by an announcement from the company this past Thursday with regards to one of its projects.
Spey Resources announced that Amaru Drilling has arrived at the site in Incahuasi Salar in Argentina and will start its drilling program from August 30, 2021. That was a significant announcement from the company and it was not really a surprise that it led to considerable optimism among investors.
In this regard, it is necessary to point out that as part of this drilling program, brine samples are going to be gathered from drill holes and the core samples are going to sent over to Core Laboratories. At Core Laboratories, transmissivity and porosity testing are going to be conducted on the samples.
The news has naturally led to a degree of excitement among investors and it is going to be interesting to see if the sentiments remain the same this week. Considering the fact that drilling activities are going to commence today, it might be a good move for investors to keep an eye on the Spey stock.