Independence Gold Corp. (CDX:IGO:CA) is amongst the weakest basic materials stocks listed on the TSX Venture Exchange through noon on September 22, with a fall of 6.25%. After closing the previous session at $0.32, shares of IGO:CA opened this morning at $0.3 and are currently trading at $0.3. At the lunch break, about 115,000 shares have changed hands, compared to an average 30-day volume of 141,298 for Independence Gold Corp.. Shares moved as high as $0.305 and as low as $0.28 in today’s morning action.
The share depreciation gives the company a market capitalization of $17.76 million based upon 55.49 million shares outstanding.
In the past 52 weeks, shares of Independence Gold Corp. have traded as low as $0.055 and as high as $0.5. Technical traders will take note that at $0.3, shares of IGO:CA are trading below their 50-day moving average (MA) at $0.366 and above their 200-day MA at above $0.18. 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 $Independence?
Independence Gold Corp is engaged in the acquisition, exploration, and evaluation of mineral properties in North America. The Company explores for gold and silver projects in British Columbia and the Yukon. The company is led by its CEO Randy C. Turner from its headquarters at 625 Howe Street.
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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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