Shares of Wishbone Gold Plc (LON:WSBN – Get Free Report) dropped 36.9% during mid-day trading on Monday . The company traded as low as GBX 41.50 and last traded at GBX 41.80. Approximately 1,676,721 shares were traded during mid-day trading, an increase of 126% from the average daily volume of 740,593 shares. The stock had previously closed at GBX 66.22.
Wishbone Gold Stock Performance
The business’s 50 day simple moving average is GBX 75.92 and its 200-day simple moving average is GBX 93.67. The company has a market cap of £12.63 million, a price-to-earnings ratio of -9.54 and a beta of 1.20.
About Wishbone Gold
It has three major exploration properties in Australia and three minor prospects. Two of these are located in the Pilbara region of Western Australia and the third is in the Mingela-Charters Towers region in Queensland.
The company’s flagship project is Red Setter located approximately 13km south west of Newcrest’s Telfer operations. Red Setter is a Havieron style gold prospect. Cottlesloe, 35km south east of Red Setter, has deposits visible at surface of silver and lead: metals which are essential for battery and electric car production.
In Queensland the Wishbone II project has almost doubled recently with the addition of Wishbone VI.
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