Landore Resources (LON:LND) Stock Price Down 24% – What’s Next?

Landore Resources Limited (LON:LND)’s stock price dropped 24% on Thursday . The stock traded as low as GBX 1.71 and last traded at GBX 1.71. Approximately 1,569,399 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 3,193,090 shares. The stock had previously closed at GBX 2.25.

Landore Resources Price Performance

The company has a market cap of £7.06 million, a PE ratio of 10.00 and a beta of -0.15. The business’s 50 day moving average is GBX 2.76 and its 200-day moving average is GBX 3.66.

Landore Resources Company Profile

Landore Resources (AIM: LND) is the 100% owner of the highly prospective BAM Gold Project, Northwestern Ontario, Canada, which has a resource estimate of 1.5M oz Au.

Landore Resource’s strategic objective is to crystallise value from BAM’s last estimated NPV of US$333.6m @ US$1,800/oz spot (from May 2022 PEA), as well as generating additional value from its non-core portfolio of precious and battery metals projects in eastern Canada and the USA.