It was a harrowing day in the markets for investors in Harte Gold Corp (OTCMKTS:HRTFF) as the company’s stock decline sharply and ended the day with a decline of as much as 66%.
On Monday, HRTFF stock lost 66.19% at $0.0165 with more than 2.99 million shares, compared to its average volume of 92.85K shares. The stock has moved within a range of $0.0165 – 0.0440 after opening the trade at $0.0440.
What You Need To Know
The company saw its stock tank after it made an announcement with regards to the third amendment it had made in its Forbearance Agreement that it had in place with BNP Paribas. The agreement in question had first been announced back on July 30 this year but after that it had been amended twice, once on September 30 and then on October 15.
The third amendment had been done in accordance with the Amendment Agreement that had been put in place on October 29. As per the terms of the last amendment, BNP Paribas has agreed to extend the date until which it is not going to enforce the rights and remedies that belongs to it as per the provisions of the BNP Debt Facilities.
It was a significant announcement from the company but it seems that investors were not particularly thrilled with the whole thing and hence, the Harte Gold stock suffered from such a strong selloff. It remains to be seen if the stock can make a recovery.
NILA stock is trading below the 200-Day and 50-Day Moving averages of $0.35 and $0.27 respectively. However, the stock is trading above the 20-Day moving average of $0.25. The stock is down 41% in the past 6-month.