In sliding 7.69%, Orefinders Resources Inc. (CDX:ORX: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 ORX:CA opened this morning at $0.06 and closed the day at $0.06. Throughout the day, about 25,000 shares changed hands, compared to an average 30-day volume of 178,337 for Orefinders Resources 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 $3.82 million based upon 58.71 million shares outstanding.
In the past 52 weeks, shares of Orefinders Resources Inc. have traded as low as $0.01 and as high as $0.115. Technical traders will take note that at $0.06, shares of ORX:CA are trading above their 50-day moving average (MA) at $0.056 and above their 200-day MA at above $0.056. 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 $Orefinders?
Orefinders Resources Inc is engaged in the exploration & development of gold assets in Canada. Its projects include Derlak Red Lake & Mirado Gold, MZ Claims Comprising Part of the Mirado, Gold Hill project & South Break project, Kirkland Lake. The company is led by its CEO Stephen Stewart from its headquarters at 1066 West Hastings 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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