With an advance of 5.56%, Gem International Resources Inc. (CDX:GI:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.09, shares of GI:CA opened this morning at $0.095 and closed the day at $0.095. Throughout the day, about 22,000 shares changed hands, compared to an average 30-day volume of 217,091 for Gem International Resources Inc.. Shares moved as high as $0.095 and as low as $0.095 in today’s trading action.
The share appreciation gives the company a market capitalization of $3.61 million based upon 40.07 million shares outstanding.
In the past 52 weeks, shares of Gem International Resources Inc. have traded as low as $0.035 and as high as $0.15. Technical traders will take note that at $0.095, shares of GI:CA are trading above their 50-day moving average (MA) at $0.07 and below their 200-day MA at below $0.096. 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 $Gem Intl?
Gem International Resources Inc is engaged in the acquisition, exploration and development of mineral properties including diamond, gold and other precious metals. Its project include Dala diamond exploration Project on the Lunda Sul Province in Angola. The company is led by its CEO Simon Tam from its headquarters at 3467 Commercial 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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