Kiska Metals Corporation (CVE:KSK) (PINK:KSKTF) share price temporarily jumped up after the company announced appointment of two professionals to the board of directors.
With the recent news it appears KSK could bounce the bottom at 67 cents or go into consolidation, putting a stop to the prevailing downtrend. The trading volume was out of context last Friday, when the price lost ground, but was not significant enough to predict a sustained drop as well.
The stock is in downtrend since November 2010 yet the current level is roughly near the multiyear support.
Kiska Metals said today the company added Jack Miller to the company’s board of directors. The decision was made during the annual meeting of shareholders on June 23, 2011. Holding a B.A.Sc. and an M.A.Sc. in geological engineering and being registered professional engineer, Mr. Miller is expected to prove his worth when working with Kiska’s Whistler Project in Alaska.
The company also appointed Geoff Chater to the board. With expertise in financial markets he will be useful when searching for financing options to help develop the same Whistler Project.
Traders greeted these newcomers by bringing the share price up in the morning, but the momentum remains week and the fight between bulls and bears could lead to a temporary price consolidation near the current levels.
