Those looking into the possibility of getting into mining stock have plenty of options to choose from but this past Friday, Monarch Mining (OTCMKTS:GBARF) emerged as a notable gainer.
The stock emerged as one of the major gainers this past Friday and ended up with gains of as much as 13% as investors piled on to it in a big way. Although there was no news about the company on Friday, Monarch Mining did provide an update with regards to its drilling activities back on June 22. The company announced that it continued to work on the expansion of the McKenzie Break Mineralized Envelope.
Monarch announced that it the Phase 2 of its drilling activities at the site started in April this year with one drill. However, the whole thing is expected to speed up considerably since the company has added another drill this month. In addition to that, the company also noted that it conducted high resolution magnetic survey over claims that have been staked recently. The company also provided the results from its drilling activities and it made for some very interesting reading for anyone who might be interested. Investors could do well to keep the stock in their watch lists this week.
Market Reaction:
On Friday, GBARF stock jumped 13.30% to $0.79 with more than 914K shares, compared to its average volume of 41k shares. The stock has moved within a range of $0.7081 – 0.8400 after opening the trade at $0.7080 Over the past 52-week, the stock has been trading within a range of $0.5900 – 0.9000.
 Stock Extends Rally: Will it Hit New Highs?){kind=link}