Pelangio Exploration Inc. (OTCMKTS:PGXPF) Sees Large Increase in Short Interest

Pelangio Exploration Inc. (OTCMKTS:PGXPF) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 89,677 shares, a growth of 490.5% from the August 15th total of 15,187 shares. Based on an average trading volume of 134,215 shares, the short-interest ratio is presently 0.7 days. Approximately 0.0% of the shares of the company are short sold.

Pelangio Exploration Price Performance

Shares of OTCMKTS PGXPF traded up $0.00 during trading hours on Friday, hitting $0.11. 1,550 shares of the company’s stock were exchanged, compared to its average volume of 43,570. The company’s 50-day moving average price is $0.11 and its 200-day moving average price is $0.12. Pelangio Exploration has a 1-year low of $0.08 and a 1-year high of $0.24. The stock has a market capitalization of $28.44 million, a price-to-earnings ratio of -11.30 and a beta of 0.28.

About Pelangio Exploration

Pelangio Exploration Inc (OTCMKTS:PGXPF) is a mineral exploration company focused on the discovery and development of high-quality gold assets in Canada and West Africa. The company’s primary business activity is the acquisition, exploration and resource definition of gold projects, with an emphasis on grassroots and advanced stage targets. Pelangio employs modern geological, geophysical and geochemical methods to evaluate its land positions and advance promising discoveries toward resource delineation.

In Canada, Pelangio’s portfolio is anchored by properties in Ontario’s prolific Timmins gold camp and the emerging Detour Trend.