A discovery can often prove to be a major boost for the stock of most mineral companies and hence, the rally in the TRU Precious Metals Corp (OTCMKTS:TRUIF) stock on Thursday was perhaps not a surprise.
On Thursday, TRUIF stock moved up 14% at $0.1289 with more than 92K shares, compared to its average volume of 37k shares. The stock has moved within a range of $0.1205 – 0.1372 after opening the trade at $0.1205.
TRU Precious Metals Drills Visible Gold at Golden Rose Project
Yesterday, the company announced that it had managed to encounter visible gold during the early stages of its diamond drill programme that is going to be a 5000 metres one. The drilling program is currently ongoing at the Golden Rose Project that belongs to the company and it might be interesting to note that the project in question is situated in the Central Newfoundland Gold Belt.
The news came as a significant boost to the TRU Precious Metals stock and it soared by as much as 14% yesterday as investors piled on to the stock in a big way yesterday. In light of the sort of gains that have been made by the stock, it is likely that TRU Precious Metals is going to be back in focus among investors today as well.
Joel Freudman, who is the Chief Executive Officer and co-founder of the company, noted that everyone at the company was ‘ecstatic’ at having encountered gold at such an early stage of the drilling programme.