In sliding 7.69%, African Gold Group Inc. (CDX:AGG:CA) was one of the worst performing stocks amongst TSX Venture Exchange-listed basic materials companies on January 13. After closing the previous session at $0.065, shares of AGG:CA opened this morning at $0.06 and closed the day at $0.06. Throughout the day, about 20,000 shares changed hands, compared to an average 30-day volume of 319,254 for African Gold Group Inc.. Shares moved as high as $0.06 and as low as $0.06 in today’s trading action.
The share depreciation gives the company a market capitalization of $16.33 million based upon 251.28 million shares outstanding.
In the past 52 weeks, shares of African Gold Group Inc. have traded as low as $0.035 and as high as $0.12. Technical traders will take note that at $0.06, shares of AGG:CA are trading below their 50-day moving average (MA) at $0.064 and below their 200-day MA at below $0.079. 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 $African Gold?
African Gold Group Inc is a mining and exploration company. It is engaged in the identification, acquisition and exploration of properties for mining of precious and base metals. The company is led by its CEO Declan T. Franzmann from its headquarters at 151 Yonge Street, 11th Floor.
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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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