On Friday, Seafield Resources Ltd. (CVE:SFF), (PINK:SRLTF) stock starred its best performance since it is publicity traded.
The shares’ explosion on two markets confirmed their new cut-off grade, resulting from the breaking release by the company of the assay results from the first three drill holes at the Quinchia Gold project in Colombia.
On the TSX Venture Exchange, the huge SFF price gap was formed by the share price soar of 147.83% between the sessions and the unprecedented trading volume of more than 70.5 million shares.
In mining, the cut-off grade is “the level of mineral in an ore below which it is not economically feasible to mine it”.
While the mining cut-off grade approximation is made in a feasibility study, at the end of last week SFF investors without making feasibility studies raised the bar of the shares’ cut-off grade by jumping in a new trading range.
At the end of the last for the week trading session, SFF stock closed the market at $0.57, not only breaking its performance records. The shares of Seafield Resources Ltd. took the grand prize on the TSX Venture Exchange for the most active by trading volume security on Friday.
On the American OTC market, the bids on the “Grey” SRLTF were even more heated. The stock of Seafield Resources Ltd. was valued by investors at $0.5935 per share, delivering the recordable 164.96% gain in just two days.[BANNER]
Maybe when considering the fair value of Seafield Resources Ltd. shares investors took in mind not only the optimistic mood of the company’s President, who stated:”With the best hole ever drilled on the Miraflores project, we are very optimistic that we will see an increase in the inferred resource.”
According to experts, “inferred” are materials in identified but unexplored deposits whose quality and quantity have been estimated from geologic projections. Referring to investors’ estimations of the company’s share price, it looks like SFF stock is also inferred, as an identified and unexplored stock. Though Seafield Resources Ltd. is not a gold producer, its last financial reports show cash and cash equivalents balances and no debt, which is a good basis for further development.
