Home / Market Movers / Visible Gold Mines Inc. (CDX:VGD:CA) Leads TSX Venture Basic Materials Laggards with Drop of 20.0% on January 13

Visible Gold Mines Inc. (CDX:VGD:CA) Leads TSX Venture Basic Materials Laggards with Drop of 20.0% on January 13

In sliding 20.0%, Visible Gold Mines Inc. (CDX:VGD: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 $0.025, shares of VGD:CA opened this morning at $0.02 and closed the day at $0.02. Throughout the day, about 24,000 shares changed hands, compared to an average 30-day volume of 150,184 for Visible Gold Mines Inc.. Shares moved as high as $0.02 and as low as $0.02 in today’s trading action.

The share depreciation gives the company a market capitalization of $3.15 million based upon 125.89 million shares outstanding.

In the past 52 weeks, shares of Visible Gold Mines Inc. have traded as low as $0.02 and as high as $0.065. Technical traders will take note that at $0.02, shares of VGD:CA are trading below their 50-day moving average (MA) at $0.025 and below their 200-day MA at below $0.036. 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 $Visible Gld?

Visible Gold Mines Inc is engaged in acquisition and exploration of mineral properties with prospects for hosting gold mineral deposits in Canada. The company is led by its CEO Martin Dallaire from its headquarters at 139 Quebec Avenue.


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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.

About FinancialPress.com

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