Today we feature Ecuador Gold and Copper Corp. (TSX-V: EGX), a junior precious metal explorer, as the top momentum gainer, since the stock surged over 12% during the last two consecutive trading days with huge shares exchanging hands than in a normal session. During the last session, EGX was among the top gainers in the Canadian diversified mining space having gained 21.1% breaking the short term 30-day DMA at C$0.10. The stock closed at C$0.12 while recording significant volumes of 1.08 million shares. During the past 5-trading sessions, EGX gained 27.8% with 5-day daily average trading volumes of 290,621 shares, while the stock accumulated over 21% during the past month with 30-day daily average trading volumes of 576,117 shares. Earlier this month, EGX filed an updated technical report for its Condor Gold and Copper Project, reflecting the increased resources estimates to approximately 8.0 million ounces of gold in the indicated category at 0.56 g/t and 2.6 million ounces of gold in the inferred category at 0.4 g/t. Moreover, the company is also planning to undertake a non-brokered private placement of up to 11.1 million shares at a price of $0.09 per share for gross proceeds of up to $1.0 million.
Company Description:
Ecuador Gold and Copper Corp. (TSX-V: EGX) is a mineral exploration company. The company is focused on the Condor Gold Project located within the Zamora province in the Loja Region of southern Ecuador.
1-Year Stock Chart:
Source: Bloomberg
