Western Areas (OTCMKTS:WNARF) Stock Price Down 31.1% – What’s Next?

Western Areas Limited (OTCMKTS:WNARF)’s stock price dropped 31.1% during mid-day trading on Monday. The company traded as low as $2.50 and last traded at $2.50. 3,000 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 3,549 shares. The stock had previously closed at $3.6299.

Western Areas Trading Down 31.1%

The company has a 50 day moving average of $2.50 and a 200 day moving average of $2.50.

About Western Areas

Western Areas Limited was an Australian nickel mining and exploration company focused on the discovery, development and production of nickel in Western Australia. Its operations centered on the Forrestania Nickel Project, located south of Southern Cross in the Goldfields region.

The company operated the Flying Fox and Spotted Quoll underground nickel mines and processed ore at its Cosmic Boy concentrator. Western Areas also held exploration interests in the surrounding Forrestania region and pursued additional nickel opportunities in Western Australia.

Western Areas was acquired by IGO Limited in 2022, after which it ceased operating as an independent publicly listed company.