If you are currently looking into stocks that managed to make notable moves yesterday then you could do well to take a closer look at Regenx Tech Corp. Following a key update from the company yesterday, the stock soared by as much as 17.65%, and on top of that the trading volume had also gone up considerably.
The company announced yesterday that last week it was awarded the coveted occupancy permit for its very first facility located in Greeneville, Tennessee. After the award of the permit, it would be possible for the company to start commissioning of Module 1.
The commissioning work would entail the testing of all the relevant components. In addition to that, it would include the first processing of smaller batches before scaling the technology up to the required levels so that the facility could produce as much as 2.5 tons a day. The company revealed yesterday that the entire commissioning phase would take up a period of 90 days before full capacity could be hit.
Regenx Tech Corp has come up with a proprietary clean technology that deploys a proprietary processing technology and chemical, which constitute a sustainable alternative to the current smelter options available for the recovery of precious metals like palladium and platinum from recycle catalytic converters.
Greg Pendura, who is the Chief Executive Officer of the company, spoke about the latest development as well. He noted that the technology that the company had managed to create was something that would encompass modern urban mining needs and would also promote sustainability in a circular economy.
He went on to note that everyone at the company was excited at the prospect of completing the upcoming commissioning process and then expanding into a four Module plant. It remains to be seen if the stock continues to rally today or not.