General European Strategic (OTCMKTS:GESI) stock may have been trading within a range yesterday but at the same time it is necessary for investors to keep in mind that there was some significant news with regards to the company yesterday. Yesterday, it emerged that the SEEMS DEEP Research Group had been awarded with a grant from ERA-Min-Grant to the tune of as much as $2 million.
Market Reaction
On Wednesday , GESI stock ended flat at $4.15 with more than 395 shares, compared to its average volume of 104 shares. The stock has moved within a range of $4.1500 – 4.1500 after opening trade at $4.15.
European Union Grant Awarded for Deep Exploration Research at GESI’s Laakso Project
More importantly, it ought to be noted that the grant is going to be spent by SEEPS DEEP Research on the Laakso PGE-Nickel-Copper Project that is owned by GESI in its entirety. The project is situated in the North-Central region of Finland.
It goes without saying that it is a major development for GESI but it did not lead to any major enthusiasm from among investors and the stock remained within a range. The Chief Executive Officer of GESI, Wolfgang Randall spoke about the development as well. He stated that that everyone at the company was delighted at the new development and went on to state that it was an exciting prospect for its Finland project. At this point, it may be a good idea for investors to keep an eye on the GESI stock.
Key Quote
Wolfgang Rauball, Director & CEO of GESI, said, “We are delighted with this exciting development at our Laakso Project, located in Finland. The knowledge and understanding that we will gain as a result of this research project will guide our future exploration programs at Laakso and potentially other deep exploration programs industry wide. The Company is looking forward to updating its shareholders with further details in due course.”
Traders Review
GESI stock is trading below the 200-Day and 50-Day Moving averages of $4.20 and $4.25 respectively. Moreover, the stock is trading below the 20-Day moving average of $4.21.
