In the past week, the Ximen Mining Corp (OTCMKTS:XXMMF) stock has managed to make a steady move up the charts and clocked gains of as much as 4% during the period. While it is true that there was no news about the company yesterday, it may be a good move to keep in mind that back on December 20, 2021 that company had made a major announcement.
Trading Data
On Thursday, XXMMF stock ended flat at $0.1329 with more than 36k shares, compared to its average volume of 20k shares. The stock has moved within a range of $0.1329 – 0.1329 after opening trade at $0.1230.
Ximen Mining Corp. Corporate Update Announcement
At the time, Ximen announced it had been successful in closing the first tranche of a private placement that it had actually announcement back on December 1, 2020. It should be noted that the placement in question was of a non-brokered nature.
The company announced that in the first tranche it had offered as many as 720000 units of flow through shares in Ximen and priced it at $0.22 each. The company managed to bring in proceeds of as much as $158400 by way of this placement.
The flow through shares are made up of one flow through share and one share warrant. The holder of the warrant is going to be entitled to pick up an additional flow through share for C$0.35 up until 36 months from the day on which it had been issued.
Technical Data
XXMMF stock is trading below the 20-Day and 50-Day Moving averages of $0.1469 and $0.1785 respectively. Moreover, the stock is below 200-Day moving average of $0.2073.
