Basic Materials

E79 Resources ( ESVNF) Stock Rockets After The News: What’s The Buzz?

E79 Resources Corp (OTCMKTS: ESVNF) jumped 243% on Monday and exited the market at $0.97. Its previous close had been $0.28. The average daily range of ESVNF has remained $0.67 – $1.10, which is almost the same as its year range. With the market capitalization of 70.30M CAD, this stock’s average share trading volume remains 7.62K. The volume of shares trading on Monday was much below the average volume, i.e., at 1.5k, yet the jump in the price is exemplary.

The British Columbia, the Canada-based company, had recently reported its results from the initial assay from the first two drill holes at its Australia-based Myrtleford property. The drilling results were presented from its Happy Valley Gold Prospect for two drill holes, HVD002 and HVD003.

In the next step, E79 Resources Corp shall be reviewing the follow-up of drilling for expansion of its results once it receives all other assays. Post this process; the company shall be assessing the structural and geological data collection apart from the hydrothermal alteration assessment for aiding new target areas.