Sabina Gold & Silver Corporation (TSE:SBB) (PINK:SGSVF) attracted over 8 million in trading volume on Friday but failed to retain this increase in activity. The stock price didn’t show much change either, although it did bounce up inside the current narrow trading channel, ranging from around $3.75 to $4.20 per share.
Such an activity is notable as it was the heaviest turnover over the past year. For comparison the average daily turnover reached only 752 thousand over the past three months. However, since the increase in trading volume wasn’t paired with an adequate price action it should be assumed the stock will not be breaking out anytime soon.
There was no recent news that could have affected the share price. The last news published by Sabina came out nearly a month ago.
On November 21 announced resource estimates at Back River gold project in Canada. The company said to have ondicated resources of 22.3 million tons at 5.62 g/t and inferred resources of 10 million tons at 6.23 g/t.
The company also announced third quarter results on November 15. The stock price barely reacted to those either, despite large scale changes:
