Wishbone Gold (LON:WSBN) Trading 9.3% Higher – Still a Buy?

Shares of Wishbone Gold Plc (LON:WSBN) traded up 9.3% during mid-day trading on Friday . The company traded as high as GBX 31 and last traded at GBX 30.07. 278,253 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 937,490 shares. The stock had previously closed at GBX 27.50.

Wishbone Gold Trading Up 10.4%

The business’s fifty day simple moving average is GBX 69.66 and its 200 day simple moving average is GBX 90.35. The stock has a market cap of £9.18 million, a price-to-earnings ratio of -6.93 and a beta of 1.20.

About Wishbone Gold

Wishbone Gold Plc is listed in London on the LSE AIM market and the AQUIS stock exchange.

It has three major exploration properties in Australia and three minor prospects. Two of these are located in the Pilbara region of Western Australia and the third is in the Mingela-Charters Towers region in Queensland.

The company’s flagship project is Red Setter located approximately 13km south west of Newcrest’s Telfer operations. Red Setter is a Havieron style gold prospect. Cottlesloe, 35km south east of Red Setter, has deposits visible at surface of silver and lead: metals which are essential for battery and electric car production.

In Queensland the Wishbone II project has almost doubled recently with the addition of Wishbone VI.