White Gold (CVE:WGO) Reaches New 52-Week High Following Insider Buying Activity

Key Points

• White Gold Corp. (CVE:WGO) shares hit a new 52-week high of C$0.75 during trading, spurred by significant insider buying activity from Director David D'onofrio.
• In total, D'onofrio purchased 257,500 shares at an average cost of C$0.52, increasing his position by approximately 6.77% and valuing his total holdings at around C$2.25 million.
• The company focuses on the acquisition and exploration of mineral properties in Canada, primarily looking for gold, copper, and silver, with its main project located in Dawson City, Yukon.

White Gold Corp. (CVE:WGO - Get Free Report) shares reached a new 52-week high on Wednesday following insider buying activity. The company traded as high as C$0.75 and last traded at C$0.74, with a volume of 897698 shares trading hands. The stock had previously closed at C$0.65.

Specifically, Director David D'onofrio purchased 182,500 shares of the stock in a transaction on Friday, August 22nd. The shares were purchased at an average cost of C$0.48 per share, for a total transaction of C$86,687.50. Following the purchase, the director owned 3,915,522 shares of the company's stock, valued at approximately C$1,859,872.95. This represents a 4.89% increase in their ownership of the stock. Also, Director David D'onofrio purchased 75,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was acquired at an average price of C$0.56 per share, for a total transaction of C$41,625.00. Following the completion of the purchase, the director directly owned 4,065,522 shares in the company, valued at approximately C$2,256,364.71. The trade was a 1.88% increase in their position.

White Gold Trading Up 1.3%

The firm's 50 day simple moving average is C$0.47 and its 200-day simple moving average is C$0.34. The stock has a market capitalization of C$154.17 million, a price-to-earnings ratio of -78.00 and a beta of 0.95.

About White Gold

White Gold Corp. engages in the acquisition, exploration, and development of mineral properties in Canada. The company primarily explores for gold, copper, molybdenum, and silver deposits. Its flagship project is the Golden Saddle and Arc deposits in the White Gold property located in Dawson City, Yukon.