Wolverine Technologies Corp (OTCMKTS:WOLV) Stock In Focus As Company Finances of up to $500,000

Wolverine Technologies Corp (OTCMKTS:WOLV) on May 24, 2022, announced on completion of a ground magnetometer survey on the newly acquired Frog Property, located in Labrador, Canada.

Market Stats

On Tuesday, WOLV stock ended flat at $0.0017 with 200k shares, compared to its average volume of 418K shares. The stock moved within a range of $0.0017 – 0.0017 after opening trading at $0.0016.

A 28.5 line-km of surveying was completed on the property by the indigenous workers employed by 86835 Newfoundland & Labrador Corp. The survey expanded on an initial survey completed in late 2021.

Though some small anomalous bodies were delineated, a robust magnetic body was highlighted in the eastern portion extending 1.4 km through the western portion of the grid. The magnetic feature is 180 to 360 m wide and demonstrates a sharp contrast of up to 20,000 nT between the anomaly and country-rock.

Earlier, the firm had announced a private placement of about 200,000,000 common shares at a price of CDN $0.0025 per share for gross proceeds. Proceeds from the private placement were to be used for exploring the Frog Property and Cache River in Labrador, Canada.

Located about seventy kilometers west-northwest of Natuashish and sixty-five kilometers southwest of Nain, Labrador, the Frog property is situated thirty kilometers south of the Voisey’s Bay nickel, copper, and cobalt deposit operated by Voisey’s Bay Nickel Company Ltd. The property is predominately by rocks of Meso Proterozoic-aged granitic intrusions.

Traders Corner

WOLV stock is trading below the 20-Day and 50-Day Moving averages of $0.0021 and 0.0027 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0053.