Amerix Precious Metals Corp. (CVE:APM
) (PINK:APMFF) stock price had a vague correction today as traders remain fixated on the recent gold finding and cling to the bullish approach towards the stock.
APM stock price slipped 8.8% lower today. The trading volume is small though, compared to the previous sessions, showing this correction had no real backbone - traders still look at the stock with a bullish attitude imposed by the latest gold findings.
Following the successful drilling results, on June 19 the company's officer and consultants were granted 350 thousand incentive stock options pursuant to the stock option plan. Those are exercisable at 16 cents per share and can be converted immediately. Regulatory approvals are still necessary though.
Last Thursday the stock price rallied 78% after the company announced to have found significant gold mineralization zone during the initial drilling on their fully owned Limao Gold Property in Brazil. Two holes were drilled thus far. One of them intersected 12.7 meters of 14 g/t, the second hole intercepted 40.4 meters grading 3.5 g/t gold and another 3.3 meters grading 2.6 g/t.
The company's geologists think the mineralized zone might be irregular in shape and further drilling will be required to grasp the true widths. Nevertheless this looks like a promising start for Amerix.