Georgian Mining (LON:GEO) Shares Down 10% – Here’s Why

Georgian Mining Corp (LON:GEO) traded down 10% during mid-day trading on Monday . The company traded as low as GBX 0.09 and last traded at GBX 0.10. Approximately 70,920,461 shares changed hands during mid-day trading, an increase of 68% from the average session volume of 42,169,223 shares. The stock had previously closed at GBX 0.11.

Georgian Mining Stock Down 10.0%

The company has a market capitalization of £5.80 million and a price-to-earnings ratio of -1.96. The stock has a 50 day simple moving average of GBX 0.11 and a 200 day simple moving average of GBX 0.11.

About Georgian Mining

Geo Exploration Limited (‘GEO’ or ‘the Company’) is an early stage mineral resource and hydrocarbon exploration company. The Company’s primary focus is highly prospective projects in Australia, with significant interest in Africa and the Mediterranean.

Geo is advancing its Juno Project in Western Australia, focusing on significant mineral resource opportunities. The Juno Project, a joint venture with Callum Baxter (80% held by Global and 20% by Mr Baxter), is located approximately 100km south of the town of Paraburdoo.