In sliding 2.27%, Sandspring Resources Ltd. (CDX:SSP: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 $0.44, shares of SSP:CA opened this morning at $0.43 and closed the day at $0.43. Throughout the day, about 221,121 shares changed hands, compared to an average 30-day volume of 161,768 for Sandspring Resources Ltd.. Shares moved as high as $0.44 and as low as $0.405 in today’s trading action.
The share depreciation gives the company a market capitalization of $50.19 million based upon 114.06 million shares outstanding.
In the past 52 weeks, shares of Sandspring Resources Ltd. have traded as low as $0.11 and as high as $0.94. Technical traders will take note that at $0.43, shares of SSP:CA are trading below their 50-day moving average (MA) at $0.43 and below their 200-day MA at below $0.559. 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 $Sandspring?
Sandspring Resources Ltd is a mineral exploration company. The Company is engaged in the exploration for, and resource expansion of, gold and related minerals of in Guyana, South America. The company is led by its CEO Richard Munson from its headquarters at 9137 East Mineral.
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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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