With an advance of 5.88%, GoldOn Resources Ltd. (CDX:GLD:CA) was one of the best performing basic material stocks listed on the TSX Venture on January 13. After closing the previous session at $0.17, shares of GLD:CA opened this morning at $0.18 and closed the day at $0.18. Throughout the day, about 16,000 shares changed hands, compared to an average 30-day volume of 9,381 for GoldOn Resources Ltd.. Shares moved as high as $0.18 and as low as $0.165 in today’s trading action.
The share appreciation gives the company a market capitalization of $1.51 million based upon 8.9 million shares outstanding.
In the past 52 weeks, shares of GoldOn Resources Ltd. have traded as low as $0.07 and as high as $0.36. Technical traders will take note that at $0.18, shares of GLD:CA are trading above their 50-day moving average (MA) at $0.156 and above their 200-day MA at above $0.177. 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 $GoldON Res?
GoldON Resources Ltd is an exploration stage company. The Company is engaged in the business of exploring its mineral exploration assets in properties in Ontario, Canada. The company is led by its CEO Michael Romanik from its headquarters at 108 – 800 Kelly 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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