Last Friday the Thor Mining PLC (OTCMKTS:THORF) stock traded within a range and it was perhaps not a surprise considering the fact that there was no news about the company at the time.
On Friday, THORF ended flat at $0.0126 with more than 10k shares, compared to its average volume of 13k shares. The stock has moved within a range of $0.0126 – 0.0126 after opening the trade at $0.0126.
Pilot Mountain divestment
In this context, it is perhaps important to point out that it was back on November 1 that the company had made a major announcement and it could be a good move for investors to take a look into it. The company announced at the time that it was pleased to have successfully disinvested from the Pilot Mountain project.
In addition to that, the company also noted that it did so in order to focus fully on its gold and copper projects. On the same day, it emerged that Golden Metal Resources, which is a subsidiary of the company Power Metal Resources, used its option in order to pick up the entirety of the Pilot Mountain project.
As part of this particular deal, Thor Mining got cash to the tune of as much as $115,000 and in addition to that, the company was also awarded Power Metal shares worth as much as $1.65 million. It now remains to be seen if the stock breaks out any time soon or not.