With an advance of 2.5%, Arianne Phosphate Inc. (CDX:DAN:CA) was one of the best performing basic material stocks listed on the TSX Venture on January 13. After closing the previous session at $0.8, shares of DAN:CA opened this morning at $0.82 and closed the day at $0.82. Throughout the day, about 64,400 shares changed hands, compared to an average 30-day volume of 29,802 for Arianne Phosphate Inc.. Shares moved as high as $0.82 and as low as $0.81 in today’s trading action.
The share appreciation gives the company a market capitalization of $78.12 million based upon 97.65 million shares outstanding.
In the past 52 weeks, shares of Arianne Phosphate Inc. have traded as low as $0.68 and as high as $1.25. Technical traders will take note that at $0.82, shares of DAN:CA are trading above their 50-day moving average (MA) at $0.799 and below their 200-day MA at below $0.925. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move above them or holding over them is typically regarded as bullish.
Who is $Arianne Phos?
Arianne Phosphate Inc is a mineral exploration company. The Company is engaged in developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. The company is led by its CEO Jean-Sebastien David from its headquarters at 393 Racine 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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