Shares of Magna Mining Inc. (OTCMKTS:MGMNF – Get Free Report) fell 6.7% during mid-day trading on Thursday . The company traded as low as $1.66 and last traded at $1.67. 143,266 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 145,163 shares. The stock had previously closed at $1.79.
Magna Mining Price Performance
The stock’s 50-day simple moving average is $1.78 and its 200-day simple moving average is $2.00.
Magna Mining Company Profile
Magna Mining Inc is a Canada-based mineral exploration and development company focused on advancing base metal projects in Mexico. The company’s flagship asset is the Cordero silver-lead-zinc deposit, located in the state of Chihuahua. Through systematic exploration, resource definition drilling and metallurgical testing, Magna Mining aims to delineate and expand mineral resources in order to progress Cordero toward preliminary economic assessment and prefeasibility stages.
The Cordero project benefits from existing infrastructure, including paved highways and nearby power transmission, which supports ongoing drill programs and potential future development.
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