These days, Matamec Explorations Inc. (CVE:MAT), (PINK:MTCEF) stock added gold value, not only on news related to the company’s gold exploration.
The peak of the shares’ discovery was on Friday, when MAT drilled a new 52-week high on a heavy volume.
Though the fact that MAT is overbought for a few trading sessions now, on the TSX Venture Exchange, the stock closed the week at $0.40 with the next in row 21.21% soar.
That was not the only good news for MAT. In a quartered average volume for the company, investors proposed a new 52-week high.
The accumulated positive news in the two-months period of time reflected simultaneously on MTCEF demand on the American OTC market. For the close of the week, investors appreciated the share price increase of 24.29%.
In the middle of September, Matamec Explorations Inc. announced the raising of funds for its operations through a private placement. Since then, on the background of the expanded financial capacity, the company is announcing positive news related to its rare metals exploration program.[BANNER]
The company explores for significant gold deposits in the Timmins mining camp in Ontario. In Quebec, MAT explores for precious and base metals on its Sakami, Valmont and Vulcain properties. In addition, the company is exploring for gold together with Northern Superior Resources Inc. on its Leperance/Wachigabau property.
As the company states: “Concurrently with the above mentioned exploration programs, Matamec’s Quebec Tansim property is also being explored for rare metals such as lithium, tantalum and niobium.”
