While the DOW and S&P 500 dumped this morning on economic worries about how much of a recovery is really coming gold and silver have risen today. More jobless numbers means more government spending and Federal Reserve action, which drives some investors into the precious metals markets. Shares of junior gold mining stock Wallbridge Mining (TSE: WM) are up over 2% today and are trading right above the $1.00 a share major milestone mark.
The stock has had a great run in the past two months when you consider that it was just 40 cents back in March. It also trades as (OTCMKTS: WLBMF on the US OTC “pink sheets” as an ADR listing. One thing getting attention today is the fact that Wallbridge announced that it is resuming explorations activities at its flagship Fenelon Gold Project.
“Our top priority is always the health and safety of our employees,” said Wallbridge President and CEO Marz Kord. “We have been fortunate to have no confirmed cases of COVID-19 amongst our staff and we want to keep it that way. The Company has rigorous safety protocols in place to address COVID-19 at Fenelon, such as temperature screening, compliance with additional hygiene measures, and task observation to ensure that all work is performed respecting physical distancing and the use of appropriate personal protective equipment.”
On twitter traders are taking notice.
This morning’s news briefing is out! News from the ongoing Guyana Goldfields acquisition. Wallbridge back at Fenelon. Financial news from @FMSilverCorp & @terangagold. Exploration results from @TroilusGold. Key infrastructure option agreement from O3.https://t.co/3fLbja1Mua
— Trevor Hall (@TrevAHall) May 14, 2020
The full interview: https://t.co/o4Ecm9QspZ watch for NR
— 🅿🅴🆃🅴 (@Pete__Panda) May 14, 2020
Sentiment is growing for junior mining stocks. My top stock pick for this month is turning up and starting to move. Even though the Russell 2000 turned down this week silver is lining up for a nice run. I talked about this with Chris Vermeulen of www.technicaltraders.com in this video interview.
-Mike
