Natural resources property acquisition and development firm Discovery Minerals LTD (OTCMKTS:DSCR) emerged as one of the major gainers yesterday after the company provided an update with regards to its Ruby Mine.
It is one of the more ambitious projects for Discover Minerals and yesterday it announced that it has appointed Simon Meldrum in the capacity of Senior Geologist. The update was welcomed wholeheartedly by market participants and the stock rallied by as much as 29% on Wednesday.
In this situation, it is likely that the Discovery Minerals stock is going to come on to the radar of many investors today. After his appointed, Meldrum had overseen an assessment of the site, which started on April 28 this year and ended on May 8. Meldrum is going to continue to work on the evaluation in his capacity as Senior Geologist and will produce a paper later on for publication. It will be interesting to see if the stock can add to its gains today.