If you are looking into mineral stocks for this week then it could be a wise move to take a closer look at the Peloton Minerals Corporation (OTCMKTS:PMCCF) stock this morning. The stock was in significant focus last week and had managed to clock gains of as much as 55% as a consequence.
Market Reaction
On Friday, PMCCF stock ended flat at $0.0680 with 40 shares, compared to its average volume of 16K shares. The stock has moved within a range of $0.0680 – 0.0680 after opening trade at $0.0680.
Peloton Receives Subscriptions for $456,866.76 Financing
In this context, it may be useful for investors to consider a key development from last week. In a press release issued on December 9 the company announced that it had got subscriptions in relation to its private placement to the tune of as much as C$456866.76. The private placement in question was made up of as many as 7614446 units in the company.
The units had been priced at $0.06 each. In this situation, it needs to be remembered that the each unit offered in the private placement was made up of a single common share and a common share warrant. The share warrant is exercisable for $0.10 for a period of as long as three years. The money that was raised by the company in the private placement is going to be used for working capital needs of Peloton Minerals.
Traders Review
PMCCF stock is trading above the 20-Day and 50-Day Moving averages of $0.0616 and $0.0628 respectively. However, the stock is trading below the 200-Day moving average of $0.0745. The stock is down 3% over the past month.
