Shares of Hondo Minerals Corp. (OTC: HMNC), a company engaged in the acquisition, exploration and development of mines, mining claims and mining real estate in the U.S., Canada, and Mexico, are soaring in trading today.
At last check, HMNC was trading 40% higher at $0.280 on above average volume of 182,285. The stock is now up 75% in the last three trading sessions.
Hondo Minerals shares are gaining momentum after the company today provided an update on its Old Tennessee Mine in Chloride, Arizona. HMNC said that it completed initial construction of the first commercial scale extraction plant that will be utilized to process an approximate one million ton of tailings and dumps at the mine site.
HMNC plans to extract gold, silver, zinc, lead, and other metals that it believes to be present from the pile.
CEO Bill Miertschin said that HMNCâ€™s expectations run high as it continues to initially load the circuit and bring it up into full operation.