Wishbone Gold (LON:WSBN) Trading Down 36.9% – Time to Sell?

Wishbone Gold Plc (LON:WSBN) fell 36.9% during mid-day trading on Monday . The company traded as low as GBX 41.50 and last traded at GBX 41.80. 1,676,721 shares changed hands during trading, an increase of 126% from the average session volume of 740,593 shares. The stock had previously closed at GBX 66.22.

Wishbone Gold Stock Performance

The stock has a 50 day moving average price of GBX 73.77 and a 200 day moving average price of GBX 92.20. The company has a market cap of £10.10 million, a P/E ratio of -7.63 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.