These days, Bayfield Ventures Corporation (CVE:BYV), (PINK:BYVVF) stock proved that investors do not appreciate its technical corrections. BYV shares, adding more and more gold value, since the beginning of the month, soared 3.77% yesterday.
About two weeks ago, due to pending hot news, the trade of BYV on TSX Venture Exchange has been temporarily halted by the Investment Industry Regulatory Organization of Canada (IIROC) on the company’s request.
BYV announced an additional high grade gold discovery on its 100% owned Burns Block property in the Rainy River District, Ontario.
The same day, BYV stock jumped up 54.43% in a volume, exceeding eight times the three months average volume of the company.
In addition to the gold discovery’s news, there was one more, related to the company’s shares. BYV noted new 52 week high at $1.38, and traded volume was the highest for a decade time.[BANNER]
The following day, BYV released the only one correction, which “Bayfield incorrectly reported, that drill hole RR10-18, from 488 meters to 569 meters, returned 2.70 g/t gold over 81 meters.” The news release should have stated 5.08 g/t gold over 81 meters.
Since that time, the news about Burns Block property lighted the fire of investors’ eagerness to own BYV shares. And the Rainy River District for them sounded, like a Golden River District.
This week looks that even the technical corrections and the slight pull back of BYV stock were not so well accepted by investors.
Since Wednesday, the golden BYV has renewed its upward direction, maybe in attempt to close at its new 52 week high.
