There are a number of companies that have come on the radar of investors in a big way, and one of those is Nicola Mining Inc. (TSXV:NIM) (OTCQB: HUSIF). The stock had been in the middle of a remarkable move at the Canadian on Monday and ended up hitting its highest level in 52 weeks amidst heavy interest.
The trading volume in the stock went up to 202,000 shares yesterday as it hit $0.22 a share during intraday trading. Over the past 52-week period, the stock traded between $0.07 a share and $0.22 a share. Having hit its latest level, it clocked gains of as much as 214% from its lowest point. In light of the latest developments, it may be a good time for investors to take a closer look at Nicola Mining as a company.
It is a junior mining company that is listed on the TSX Venture Exchange and the Frankfurt Exchange. The company maintains a mill and tailings facility near Merritt, British Columbia, which it owns in its entirety. The mill has the capability of processing both gold and silver mill feed with the deployment of floatation and gravity processes. Additionally, the company also announced that it had inked mining and milling sharing agreements with some higher-grade gold projects.
The company had been in the news on September 6 when it announced that it had inked a non-binding letter of intent with the public arm’s length firm Nittetsu Mining Co. Ltd., based out of Japan. As per the letter of intent, the company would set up a joint venture entity in collaboration with Nittetsu pertaining to the New Craigmont Copper Project, which Nicola Mining owns 100%. Nittetsu would pay for some of the exploration costs and other expenses, which could go up to $25 million once the project is concluded.