PT Merdeka Copper Gold Tbk (OTCMKTS:PMCGF) Sees Significant Drop in Short Interest

PT Merdeka Copper Gold Tbk (OTCMKTS:PMCGF) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totaling 1 shares, a drop of 100.0% from the April 30th total of 185,001 shares. Based on an average daily trading volume, of 0 shares, the days-to-cover ratio is currently ∞ days.

PT Merdeka Copper Gold Tbk Stock Performance

Shares of PMCGF remained flat at $0.10 during trading hours on Wednesday. PT Merdeka Copper Gold Tbk has a 1-year low of $0.10 and a 1-year high of $0.20. The firm has a 50 day simple moving average of $0.10 and a 200 day simple moving average of $0.10.

About PT Merdeka Copper Gold Tbk

PT Merdeka Copper Gold Tbk is an Indonesia-based mining company principally engaged in the exploration, development and operation of copper and gold mineral properties. Established in 2011 and listed on the Indonesia Stock Exchange in 2014, the company has rapidly advanced from exploration stages to commercial production, leveraging Indonesia’s abundant mineral resources and supportive regulatory environment.

The company’s flagship assets include the Wetar copper-gold mine in the Maluku Islands, which began production in 2012, and the Tujuh Bukit gold-copper project in East Java.