Osceola Gold (OTCMKTS:OSCI) Stock Corrects After Monthly Operational Mining Update

Precious metal mining firm Osceola Gold (OTCMKTS:OSCI) had seen its stock go through a strong rally not too long ago but on Thursday the stock corrected sharply and went down by as much as 33% amidst a heavy selloff.

Market Reaction

On Thursday, OSCI stock fell 31.45% to $0.0850 with 978k shares, compared to its average volume of 467K shares. The stock moved within a range of $0.0825 – 0.1240 after opening trade at $0.1240.

Osceola Gold April Operational Mining Update

The company, which is mainly focussed on development as well as exploration of gold and precious metals at its properties, made a key announcement yesterday. Osceola announced that it was going to get into the next stage of operations from the week that starts on May 2, 2022. It was a major new announcement from the company but it did not lead to any joy for investors as the stock declined sharply following the selloff.

In this situation, it may be important for investors to figure out if the stock can make a recovery over the coming days or not. Osceola Gold also announced yesterday that the first stage of the operations had almost been concluded and the team in charge of managing the operations is going to get back to the site on May 4. Despite the fall in the stock price, it may be a good time for investors to consider keeping an eye on the Osceola Gold stock.

Traders Review

OSCI stock is trading below the 20-Day and 50-Day Moving averages of $0.1213 and $0.1364 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1122.

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