Azarga Metals (OTCMKTS:EUUNF) Grants Stock Options, While a Director Resigns from the Board

Azarga Metals (OTCMKTS:EUUNF) has announced on April 21, 2022 that its board of directors has granted a total of 4,500,000 incentive stock options of the capital stock of the company to directors and officers.  These shares are exercisable for up to a five year period at an exercise price of $0.05, being the closing share price on April 20, 2022, pursuant to the Azarga Metals shareholder approved stock option plan.

Market Reaction

On Thursday, EUUNF stock  ended flat at $0.0349 with 30K shares, compared to its average volume of 21K shares. The stock moved within a range of $0.0349 – 0.0349 after opening trade at $0.0349.

Azarga Metals has complete ownership of the high-grade copper-rich VMS Marg project within the Keno Hill Silver District of the Yukon Territory. It is now engaged in reviewing and re-interpreting the historic VTEM database of the airborne geophysical program to be used to refine the drill targets for the Company’s planned 2022 exploration program. Planning for this program has commenced.

Drilling is likely to be focused on Marg deposit extensions and the extremely promising Jane Zone, which has the potential for another Marg-style deposit. Mineralization at the Marg project remains open along strike, down-dip and down plunge and drilling will be aimed at defining 14 to 15 million tonnes of mineralized material.

A major change in the company leadership happened with Vladimir Pakhomov resigning from the board of directors, effective immediately. The company has thanked him for his contributions and wished him good luck for future endeavors.

Traders Review

EUUNF stock is trading above the 20-Day and 50-Day Moving averages of $0.0333 and $0.0344 respectively. However, the stock is trading below the 200-Day moving average of $0.0519.


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