Shares of Nevada King Gold Corp. (OTCMKTS:VKMTF) have been trading in a narrow range after the recent fall.
Market Reaction
On Thursday, VKMTF stock gained 1.94% to $0.2752 with 218k shares, compared to its average volume of 217K shares. The stock has moved within a range of $0.2655 – 0.2865 after opening trade at $0.2865.
Nevada King Gold Corp. Changes Symbol on OTCQX Best Market from VKMTF to NKGFF
Nevada King Gold Corp. (OTCMKTS:VKMTF) makes a major announcement on December 9, 2021 about the ticker symbol on the OTCQX Best Market for the Company’s common shares. The symbol will change from VKMTF to NKGFF – it is to be effective from December 10, 2021, after the market officially opens.
The reason for the symbol change is due to it being more consistent with the company’s stock symbol on the TSX Venture Exchange (TSXV) – their primary trading market. The Company’s common shares will continue to trade on the TSXV under the symbol NKG. It will have no effect on Nevada King shareholders, so no action is needed from their end.
Being the third largest mineral claim holder in the State of Nevada, the Nevada King Corp. has staked large project areas hosting significant historical exploration work along the Battle Mountain trend located close to current or former producing gold mines. These areas were chosen as they displayed potential for hosting multi-million ounce gold deposits.
One of the company’s district-scale projects, the Atlanta Mine, located 100km southeast of Ely, is a long-time gold-silver producer with an NI 43-101 compliant pit-constrained resource of 460,000 oz Au in the measured and indicated category (11.0M tonnes at 1.3 g/t) plus an inferred resource of 142,000 oz Au (5.3M tonnes at 0.83 g/t).
Traders Review
VKMTF stock is trading below the 20-Day and 50-Day Moving averages of $0.28 and $0.29 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.39.
