AMI Resources Inc. (CDX:AMU:CA) is amongst the weakest basic materials stocks listed on the TSX Venture Exchange through noon on September 22, with a fall of 13.33%. After closing the previous session at $0.075, shares of AMU:CA opened this morning at $0.065 and are currently trading at $0.065. At the lunch break, about 2,000 shares have changed hands, compared to an average 30-day volume of 1,413 for AMI Resources Inc.. Shares moved as high as $0.065 and as low as $0.065 in today’s morning action.
The share depreciation gives the company a market capitalization of $2.08 million based upon 27.73 million shares outstanding.
In the past 52 weeks, shares of AMI Resources Inc. have traded as low as $0.025 and as high as $0.1. Technical traders will take note that at $0.065, shares of AMU:CA are trading below their 50-day moving average (MA) at $0.082 and above their 200-day MA at above $0.055. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath or holding under them is typically regarded as bearish.
Who is $AMI Res Inc.?
AMI Resources Inc is an exploration and development stage Company, which through its wholly owned operating subsidiary AMI Africa Exploration Ltd, is engaged in gold exploration activity in West Africa. The company is led by its CEO Robert Spiers from its headquarters at 12216 Boundary Drive North.
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About the TSX Venture Exchange
Owned and operated by the TMX Group, the TSX Venture Exchange is a public venture capital marketplace for emerging companies. It is headquartered in Calgary, Alberta, Canada with offices in Toronto, Vancouver and Montreal. All trading on the exchange is done electronically. Originally established in 1999, the “Venture,” as it is often shortened, was previously known as the Canadian Venture Exchange, but renamed in 2001 subsequent to the TSX Group (now known as the TMX Group) purchasing it.
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