Morien Resources Corp. (CDX:MOX:CA) is amongst the weakest basic materials stocks listed on the TSX Venture Exchange through noon on September 22, with a fall of 7.89%. After closing the previous session at $0.38, shares of MOX:CA opened this morning at $0.35 and are currently trading at $0.35. At the lunch break, about 21,500 shares have changed hands, compared to an average 30-day volume of 53,666 for Morien Resources Corp.. Shares moved as high as $0.355 and as low as $0.35 in today’s morning action.
The share depreciation gives the company a market capitalization of $20.47 million based upon 53.86 million shares outstanding.
In the past 52 weeks, shares of Morien Resources Corp. have traded as low as $0.17 and as high as $0.38. Technical traders will take note that at $0.35, shares of MOX:CA are trading above their 50-day moving average (MA) at $0.303 and above their 200-day MA at above $0.267. 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 $Morien Res?
Morien Resources Corp is a mineral resource company. It is engaged in the identification, purchase, exploration and development of mineral properties. Its projects include Donkin Coal, Black Point Aggregate and Banks Island Gold Project. The company is led by its CEO John Budreski from its headquarters at 99 Wyse Road.
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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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