In the past week, the Andean Precious Metals Corporation (OTCMKTS:ANPMF) has seen its stock take a significant dive and has lost as much as 8% during the period. Considering the losses suffered by the stock, it may be a good time now for investors to figure out if the decline is going to continue or if there is going to be a recovery soon.
Market Action
On Monday, ANPMF stock ended flat at $1.44 with 12.7k shares, compared to its average volume of 6.5K shares. The stock moved within a range of $1.4400 – 1.4400 after opening trade at $1.365.
Andean Precious Metals Initiates Phase Two Exploration Drilling Program
As it happens, the company was actually in the news yesterday after it made an announcement and it may be a good time to look into it.
The South America based precious metals company announced yesterday that it had launched its Phase Two 15000 metre drilling programme that is going to be focussed on the porphyry target in Sao Paulo. It goes without saying that the latest announcement from Andean Precious Metals was an important one but it did not have much of an impact on the outlook of investors with regards to the stock.
There was no upward move of any sort. However, it is going to be interesting to see if the stock manages to make an upwards move today or not. It may be a good idea to add the Andean Precious Metals stock to your watch lists this week.
Key Quote
“Andean came to market in March of 2021 as a Company with a strong foundation of production and cashflow and a focus on growth through project acquisition and development,” said Simon Griffiths, President and CEO. “Bolivia is among the most geologically prospective, under-developed jurisdictions in the world, so progressing exploration work on our own portfolio of projects has been a key priority for Andean. Our Phase Two exploration program will test a porphyry target at our San Pablo Gold Project that was identified in our recently completed Titan Geophysical survey. We have budgeted 15,000 meters for this purpose.” Mr. Griffiths went on to say, “I am encouraged by the scope of opportunity that exists for Andean to grow organically in Bolivia. Exploration is a key element of this growth, complementing our San Bartolomé mine life Expansion Study and the continued extension of our government contracts.”
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