Great Western Mining (LON:GWMO) Trading 11.1% Higher - Here's Why

Key Points

• Great Western Mining shares rose by 11.1%, trading as high as GBX 1.05 ($0.01) during mid-day trading.
• The stock's trading volume increased by 258% from its average daily volume, with approximately 2.46 million shares exchanged.
• Great Western Mining is focused on gold and silver exploration in Nevada, targeting between 0.50 million to 1.50 million ounces of gold from multiple prospects.

Great Western Mining Co. PLC (LON:GWMO - Get Free Report)'s stock price shot up 11.1% during mid-day trading on Wednesday . The company traded as high as GBX 1.05 ($0.01) and last traded at GBX 1 ($0.01). 2,460,629 shares were traded during trading, an increase of 258% from the average session volume of 687,953 shares. The stock had previously closed at GBX 0.90 ($0.01).

Great Western Mining Price Performance

The company has a market capitalization of £87.42 million, a PE ratio of -2.35 and a beta of 0.19. The stock's 50 day simple moving average is GBX 0.96 and its 200-day simple moving average is GBX 1.01.

Great Western Mining Company Profile

Great Western Mining (AIM:GWMO/Euronext Growth 8-GW) is focused on exploitation of its gold and silver prospects in the U.S. state of Nevada, where an active exploration and development programme is under way. Its gold exploration target currently ranges from 0.50 million to 1.50 million ounces from multiple prospects and a project is being developed to produce commercial quantities of gold from numerous spoil heaps.