Home / Market Movers / Geomega Resources Inc. (CDX:GMA:CA) Advances 29.17% on February 16, Leads TSX Venture Basic Materials Sector

Geomega Resources Inc. (CDX:GMA:CA) Advances 29.17% on February 16, Leads TSX Venture Basic Materials Sector

With an advance of 29.17%, Geomega Resources Inc. (CDX:GMA:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.12, shares of GMA:CA opened this morning at $0.155 and closed the day at $0.155. Throughout the day, about 955,131 shares changed hands, compared to an average 30-day volume of 91,545 for Geomega Resources Inc.. Shares moved as high as $0.155 and as low as $0.11 in today’s trading action.

The share appreciation gives the company a market capitalization of $9.39 million based upon 78.23 million shares outstanding.

In the past 52 weeks, shares of Geomega Resources Inc. have traded as low as $0.06 and as high as $0.23. Technical traders will take note that at $0.155, shares of GMA:CA are trading above their 50-day moving average (MA) at $0.091 and above their 200-day MA at above $0.115. 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 $Geomega Res?

Geomega Resources Inc is engaged in the acquisition, exploration and evaluation of mining properties in Canada. Its projects include Montviel property and Anik property. The company is led by its CEO Kiril Mugerman from its headquarters at 75 Mortagne Boulevard.


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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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