Landore Resources (LON:LND) Stock Passes Below 200-Day Moving Average – Here’s Why

Shares of Landore Resources Limited (LON:LND) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 3.71 ($0.05) and traded as low as GBX 3.16 ($0.04). Landore Resources shares last traded at GBX 3.38 ($0.04), with a volume of 141,426 shares changing hands.

Landore Resources Stock Down 2.2 %

The stock’s 50-day simple moving average is GBX 3.61 and its 200 day simple moving average is GBX 3.70. The firm has a market cap of £10.44 million, a P/E ratio of -2.82 and a beta of -0.15.

Landore Resources Company Profile

Landore Resources (AIM: LND) is the 100% owner of the highly prospective BAM Gold Project, Northwestern Ontario, Canada, which has a resource estimate of 1.5M oz Au.

Landore Resource’s strategic objective is to crystallise value from BAM’s last estimated NPV of US$333.6m @ US$1,800/oz spot (from May 2022 PEA), as well as generating additional value from its non-core portfolio of precious and battery metals projects in eastern Canada and the USA.