BMEX Gold Inc (OTCMKTS:MRIRF) Stock Continues to Trade in a Narrow Range

Although it is true that the BMEX Gold Inc (OTCMKTS:MRIRF) stock was trading within a range on Thursday, it cannot be denied that the company is in the news and it may be a good idea for investors to take a look into it.

Market Action

On Thursday, MRIRF stock ended flat at $0.1062 with 6K  shares, compared to its average volume of 2.2K shares. The stock has moved within a range of $0.1062 – 0.1062 after opening trade at $0.1062.

Completes Phase 2 Drill Program on King Tut Announces Grant of Stock Options and RSUs

In addition to that, it should also be noted that stocks trading within a range can also break out sometime and that is another reason why investors ought to take a look. The company announced yesterday that it had been successful in completing the 3000 metre Phase 2 drilling initiative at its King Tut Project. The project in question is situated in Abitibi Gold Belt.

In this context, it ought to be noted that the company had worked on as many as 17 drilling holes during the course of the Phase 2 drilling programme. In this phase, BMEX had also conducted a DDH programme in the main zone.

It is quite clear to see that the announcement made yesterday by the company was a significant one. However, it now remains to be seen if the stock does come into focus among investors or not over the coming days.

Traders Note

MRIRF stock is trading below the 20-Day and 50-Day Moving averages of $0.1078 and $0.1154. Moreover, the stock is trading is the neutral zone with RSI stands at 34. Key pivot point is $0.1062.

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