Constantine Metal Resources Ltd. (TSXV: CEM), a junior mining company, witnessed strong price momentum during the past few trading sessions after the company reported positive results from its first two holes of a 10,000 meter drill program on its Palmer VMS Project in Alaska. The company’s stock broke out rallying more than 14% and touching its intraday 52-week highs during each of the past two consecutive trading days with significant number of shares exchanging hands. In the last trading session, CEM was among the top gainers in the Canadian diversified metals & mining sector after climbing 14% and ended at its 52-week high of C$0.25 while recording huge volumes of 434,300 shares. During the past 5-trading sessions, the stock powered 75% higher with daily average trading volumes of 397,668 shares, while CEM accumulated over 113% recording daily average trading volumes of 121,743 shares. The stock is up more than 276% year-to-date. Last week, CEM reported results for the first two holes of a 10,000 meter drill program on its Palmer VMS Project, Alaska with 2.5% Copper and 4.1% Zinc over 22.1 Meters.
Company Description:
Constantine Metal Resources Ltd (TSX-V: CEM) explores for and develops polymetallic massive sulfide properties in Alaska.
1-Year Stock Chart:
Source: Bloomberg
