Blue River Resources Ltd. (CDX:BXR:CA) came out weak at the opening of trading on April 21, outpacing most other peers in the basic materials sector listed on the TSX Venture Exchange with an early decline of 12.5%. After closing the previous session at $0.04, shares of BXR:CA opened this morning at $0.035 and are currently trading at $0.035. So far, about 20,000 shares have changed hands, compared to an average 30-day volume of 193,022 for Blue River Resources Ltd.. Shares moved as high as $0.035 and as low as $0.035 in today’s early action.
The share depreciation gives the company a market capitalization of $5.0 million based upon 124.97 million shares outstanding.
In the past 52 weeks, shares of Blue River Resources Ltd. have traded as low as $0.03 and as high as $0.08. Technical traders will take note that at $0.035, shares of BXR:CA are trading below their 50-day moving average (MA) at $0.042 and below their 200-day MA at below $0.052. 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 $Blue River R?
Blue River Resources Ltd is engaged in the acquisition, exploration and development of mineral properties in British Columbia, Canada, and Washington, USA. The Company's projects include Castle Project and Mazama Copper Project. The company is led by its CEO Griffin Victor Jones from its headquarters at 525 Seymour 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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