If you are currently looking into stocks which may have managed to record significant gains over the past week, then you could consider taking a look at the Mountain Province Diamonds Inc (OTCMKTS:MPVDF) stock. During the course of that period, the stock has managed to clock gains of as much as 11%.
Market Action
On Tuesday, MPVDF stock fell 1.72% to $0.57 with 7.4k shares, compared to its average volume of 105k shares. The stock has moved within a range of $0.5267 – 0.5940 after opening trade at $0.58.
Announces Outbreak of Covid-19 at Gacho Kué – No Production Interruption Expected
However, the announcement made by the company yesterday might make investors apprehensive. Mountain Province Diamonds announced yesterday that there had been an outbreak of COVID 19 cases at GahchoKue. The announcement had been made by the Chief Public Health Officer who is in charge of the area.
However, the company also added that the personnel working at GahchoKue are fully vaccinated. In addition to that, Mountain Province Diamonds also added that at this point of time there has been no impact on the company’s activities in the area. Eight close contact with three individuals who had displayed mild cold symptoms had been sent to quarantine.
All the other workers at the mine tested negative for COVID 19. Hence, it is clear to see that there is no imminent danger of the work being halted due to the outbreak.
Key Quote
Mark Wall , the Company’s President and Chief Executive Officer, commented:
“The team on site has done a fantastic job in sustaining operations through a pandemic that has impacted all of our lives. We are very fortunate to have De Beers and Anglo American as our joint venture partner and operator, with our shared focus on employee safety and operational continuity. It is important that we continue the strenuous controls in place to protect both our people and the communities of the Northwest Territories.”
Traders Note
MPVDF stock is trading above the 20-Day and 50-Day Moving averages of $0.5173 and $0.4753. Moreover, the stock is trading is the overbought zone with RSI stands at 63.
 Stock Jumps 11% In a Week: Here is Why){kind=link}