Magna Mining (OTCMKTS:MGMNF) Shares Up 5.5% – Still a Buy?

Shares of Magna Mining Inc. (OTCMKTS:MGMNF) were up 5.5% on Thursday . The company traded as high as $1.9553 and last traded at $1.9310. Approximately 109,510 shares were traded during trading, a decline of 18% from the average session volume of 132,987 shares. The stock had previously closed at $1.83.

Magna Mining Trading Up 1.0%

The firm has a fifty day simple moving average of $1.83 and a 200-day simple moving average of $1.74.

Magna Mining Company Profile

Magna Mining Inc is a Canada-based mineral exploration and development company focused on advancing base metal projects in Mexico. The company’s flagship asset is the Cordero silver-lead-zinc deposit, located in the state of Chihuahua. Through systematic exploration, resource definition drilling and metallurgical testing, Magna Mining aims to delineate and expand mineral resources in order to progress Cordero toward preliminary economic assessment and prefeasibility stages.

The Cordero project benefits from existing infrastructure, including paved highways and nearby power transmission, which supports ongoing drill programs and potential future development.