Shares of NewOrigin Gold Corp (OTCMKTS:TROIF) (TSXV:NEWO) have been moving within a range after the recent fall.
Market Reaction
On Friday , TROIF stock ended flat at $0.0739 with 1K shares, compared to its average volume of 3.8K shares. The stock has moved within a range of $0.0739 – 0.0739 after opening trade at $0.0739.
NewOrigin Gold engages T2W Market Liquidity Inc.
Canadian gold exploration company focusing on drill discovery on North Abitibi and Sky Lake gold projects in the Canadian Shield, NewOrigin Gold Corp (OTCMKTS:TROIF) (TSXV:NEWO) on February 4, 2022, announced engaging T2W Market Liquidity Inc from February 1, 2022.
This will provide market liquidity services for common shares listed on TSX Venture Exchange. The engagement term will be for at least three months and renewable on a month-to-month basis.
Dundas Ontario-based private firm, T2W is in the business of giving market liquidity service to listed issuers for over a decade. Principal of T2W, Harold Hoff, has experience of over 10 years’ experience as a pro trader and market maker for a major bank-owned investment dealer.
To give market stabilization as well as liquidity services, the firm will be paying a T2W monthly flat fee of $3,500 for at least six months. The firm’s remuneration is not contingent on the market price of NewOrigin on the TSXV.
T2W is dependent on the firm and will be trading as principal for the account. The firm will be harnessing knowledge and discretion in giving services and no assurance has been given on any particular effect of its common shares. The company has covenanted for operating inSet featured image accordance with best trading practices at all times.
Traders Review
TROIF stock is trading below the 20-Day and 50-Day Moving averages of $0.0846 and $0.0833 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1255.
