Mining stocks have seen considerable action in recent times and if you are looking into those stocks then Anaconda Mining Inc (OTCMKTS:ANXGF) could be one worth considering.
Market Reaction
On Thursday, ANXGF stock fell 0.40% to $0.4783 with 10.66K shares, compared to its average volume of 33K shares. The stock moved within a range of $0.4746 – 0.4840 after opening trade at $0.4746.
Anaconda Mining Inc. Announces US$8.0 Million Loan Facility With Auramet International LLC
The stock has been in the middle of a steady rally in the past week and has managed to deliver gains of as much as 6% during the period. In this situation, it could be a good move to take a look at a key announcement made by the company on Thursday. Anaconda Mining announced yesterday that it had signed up for a promissory note with the firm Auramet International LLC.
The promissory note was in relation to a senior secured loan that has been provided to Anaconda by Auramet in the form of a loan facility worth as much as $8 million. The net proceeds that Anaconda is going to get is going to be used for repaying the current goal repayment facility that is already in place with Auramet.
Considering the latest development, it may not be farfetched to expect the Anaconda stock to come into the focus of investors over the course of the coming days. Investors could do well to keep an eye on it.
Traders Review
ANXGF stock is trading below the 20-Day and 50-Day Moving averages of $0.50 and $0.55 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.55.
