Gold penny stocks are always worth paying attention too; but in 2019, Harmony Gold Mining Company Limited (NYSE:HMY) may be leading the pack. And based on what’s happening on the market today, especially considering the company hasn’t released any news, the above-statement seems even more justified. At the time of writing, the HMY stock is trading up nearly 5%.
Gold Penny Stocks: Harmony Gold Mining Company
According to Yahoo Finance, as of 1:02 PM, the HMY stock is up 4.70%. Its trading price is sitting at $1.89.
Similar to many companies, Harmony Gold Mining, which has its head office in Randfontein, South Africa, has had ups and downs. But, in early December, the gold penny stock announced plans for 2019; plans that hint investors should keep a close eye on the direction HMY is moving in.
On December 11th, 2018, Harmony Gold announced that it, alongside its partner Australia’s Newcast Mining, signed a memorandum of understanding (MOU) with the Papua New Guinea government. Under the terms of the agreement, Harmony Gold will secure a mining permit by mid-2019. The license will allow for a copper and gold mine, named Wafi-Golpu, to start up.
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According to Peter Steenkamp, CEO of Harmony Gold Mining, the MOU is an “important step in progressing the permitting of the Wafi-Golpu project.” He went on to explain that it gives “a framework of key terms to be included in the mining development contract and other related agreements with the state.”
The Takeaway
Moving forward, those interested in gold penny stocks should keep an eye on the Wafi-Golpu mine development. If things are going well in mid-2019, the HMY stock could be in luck and have trading days similar to the current one.
What do you think of the news? Are there more preferable gold penny stocks out there? Let us know what you think in the comments below!
Featured Image: Depositphotos/yellow2j
