RooGold Inc (OTCMKTS:JNCCF) (CSE:ROO) is one of the latest gold stocks to have come on to the radars of investors in a big way and on Monday it ended the day with gains of as much as 3%.
Market Reaction
On Monday, JNCCF stock gained 3.17% to $0.13 with 472k shares, compared to its average volume of 31K shares. The stock moved within a range of $0.1300 – 0.1540 after opening trade at $0.1334.
Carlos Espinosa Officially Joins RooGold as Chief Executive Officer
The company was in the news cycle yesterday after RooGold announced that it made the appointment of Carlos Espinoza as its new Chief Executive Officer, member of the board and President. The appointment had actually gone into effect on March 4, 2022. The appointment of a CEO can often have a major effect on any company’s stock and it seems that investors were happy with the new appointment.
However, it is still going to be interesting to see if the RooGold stock can actually hold on to its gains and add to it in the coming days. The news had actually emerged last month on February 9 when RooGold announced that Espinoza was going to replace Michael Mulberry as the new Chief Executive Officer of the company. It should be noted that Mulberry is going to continue to be associated with RooGold and will continued to serve as a Director. It may be a good time to add the stock to your watch lists.
Key Quote
Carlos Espinosa commented, “I am very excited to join a company with a great team of professionals and excellent gold and silver assets in Australia, a country with a long mining tradition and one of the best mining jurisdictions in the world. I am sure that together we will build a fantastic story and an amazing company, adding value to our shareholders, as well as local communities, government, employees and consultants, and the rest of stakeholders around RooGold.”
Traders Review
JNCCF stock is trading below the 20-Day and 50-Day Moving averages of $0.1350 and $0.1655 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1505.
