Following the released by the company significant developments, SLAM Exploration Ltd. (CVE:SXL) stock is climbing up with sharp and rapid steps these days.
As a result, SXL shares noted their best price performance for the last two years, supported by heavy trading volume.
At the end of September, SLAM Exploration Ltd. raised $2.23 million in a non-brokered private placement
The company announced that the proceeds from the sale of securities will be used for drilling, for SLAM’s wholly-owned Reserve Creek gold project in Ontario, as well as for the Silverjack project in New Brunswick.
Yesterday, SXL released preliminary results for 3 trenches completed at its Silverjack property in New Brunswick. In addition, SLAM Exploration Ltd. announced that it has been awarded a provincial grant of $35 thousand under the New Brunswick Junior Mining Assistance Program in order to support the trenching and the subsequent drilling program.[BANNER]
On these developments, SXL stock made a huge jump up within a week. Yesterday, SXL closed at $0.22 per share, which was not only the new 52-week high. This was the highest SXL stock price for the last two years. The volume traded exceeded three times the average for SXL. Just from the beginning of this month, SXL stock brought investors the joy of a 37.5% gain.
Looks like on the American OTC market investors were not in such an enthusiastic mood. Yesterday, although the share price increased by 1.70%, SLMXF closed the trading session lower than it entered it. Maybe the huge SLMXF stir happened there one week earlier, or will just begin.
