Habanero Resources Inc. (CVE:HAO) (PINK:PTAXF) had the trading volume cranked up recently, but it didn’t resonate with the generally volatile price action. The news that was out might turn the tide though.
HAO share price remains at the 12.5 cents support, though the volume dropped from nearly 2 million on Wednesday and didn’t even top the average on Thursday. This bodes well for the bulls. Even if support is broken there’s another one at 11 cents, so there’s not so much downside.
In fact, considering there was some good news out lately, the price should not be expected to drop at all. The company said yesterday they have substantially increased land position in the Keno Hill Silver Region. Habanero more than doubled their ownership to 21 thousand contiguous acres.
The region has historical records of high grade silver, lead and zinc ores and was a second largest silver producer in Canada throughout most of the 20th century.
Furthermore, Habanero has recently secured a $1.59 million financing which will allow them to start the development of three projects this summer already. Those include Haldane and white gold work programs in Yukon and Lezai prospect in Quebec.
