In sliding 12.5%, SLAM Exploration Ltd. (CDX:SXL: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 $0.04, shares of SXL:CA opened this morning at $0.035 and closed the day at $0.035. Throughout the day, about 1.59 million shares changed hands, compared to an average 30-day volume of 36,737 for SLAM Exploration Ltd.. Shares moved as high as $0.045 and as low as $0.03 in today’s trading action.
The share depreciation gives the company a market capitalization of $1.15 million based upon 28.78 million shares outstanding.
In the past 52 weeks, shares of SLAM Exploration Ltd. have traded as low as $0.035 and as high as $0.145. Technical traders will take note that at $0.035, shares of SXL:CA are trading below their 50-day moving average (MA) at $0.047 and below their 200-day MA at below $0.065. 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 $SLAM Expl?
Slam Exploration Ltd is engaged in the acquisition, exploration & development of exploration & evaluation properties in New Brunswick and Ontario, Canada. Its project include; Costigan, Menneval, Nash Creek, Reserve Creek Gold & Opikeigen Lake Gold. The company is led by its CEO Michael Taylor from its headquarters at 295 Campbell 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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