Although the Asante Gold Corporation(OTCMKTS:ASGOF) Stock was trading within a range on Tuesday, it is necessary for investors to note that the company was in fact in the news yesterday and it may be a good move to take a look into it. The company came into focus in a big way on Tuesday after it announced that it had appointed a new President and Chief Executive Officer in the form of David Anthony.
Market Reaction
On Tuesday, ASGOF stock ended flat at $1.12 with 10K shares, compared to its average volume of 1.3K shares. The stock moved within a range of $1.1200 – 1.1200 after opening trade at $1.12.
Asante Gold Announces Management Changes
An announcement of such a nature is almost always a major development for any company but it did not lead to any reaction from investors yesterday.
Anthony is going to replace Douglas MacQuarrie in the new positions. It should however be noted that Douglas MacQuarrie has already been appointed as a non-executive director at Asante Gold. The appointment of Anthony could be a significant one for Asante Gold considering the fact that his experience in the mining sector spans more than four decades.
That being said, it is now going to be interesting to see how the company moves forward with its projects in the coming days. At this point, it may be a good move to keep an eye on the news with regards to Asante Gold.
Traders Review
ASGOF stock is trading above the 20-Day and 50-Day Moving averages of $1.11 and $1.04 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.7861
