Home / Market Movers / PNG Gold Corporation (CDX:PGK:CA) Advances 5.0% on January 13, Leads TSX Venture Basic Materials Sector

PNG Gold Corporation (CDX:PGK:CA) Advances 5.0% on January 13, Leads TSX Venture Basic Materials Sector

With an advance of 5.0%, PNG Gold Corporation (CDX:PGK:CA) was one of the best performing basic material stocks listed on the TSX Venture on January 13. After closing the previous session at $0.1, shares of PGK:CA opened this morning at $0.105 and closed the day at $0.105. Throughout the day, about 7,600 shares changed hands, compared to an average 30-day volume of 89,168 for PNG Gold Corporation. Shares moved as high as $0.105 and as low as $0.105 in today’s trading action.

The share appreciation gives the company a market capitalization of $3.18 million based upon 31.78 million shares outstanding.

In the past 52 weeks, shares of PNG Gold Corporation have traded as low as $0.025 and as high as $0.305. Technical traders will take note that at $0.105, shares of PGK:CA are trading above their 50-day moving average (MA) at $0.095 and above their 200-day MA at above $0.066. 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 $PNG Gld Corp?

PNG Gold Corp is a gold exploration and development company. Its principal business activities are its 100% interest in the Normanby exploration license and the Sehulea exploration license, on Normanby Island, eastern Papua New Guinea. The company is led by its CEO Gregory M. Clarkes from its headquarters at 1090 West Pender Street.

For more information on PNG Gld Corp and other companies trading on the TSX Venture Exchange, as well as other Canadian and American stock exchanges, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.

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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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