Xinergy Ltd (TSX: XRG), a low-cost producer of high quality thermal and premium metallurgical coal with mining operations in West Virginia and Virginia, is featured as today’s top momentum gainer since the stock gained more than 12% during the last two consecutive trading days with significant number of shares changing hands than in a normal session. During the last trading session, XRG was the star performer in the Canadian mining space after gaining 12% and closed at $0.65 while recording significant volumes of 105,050 shares. During the past 5 trading sessions, XRG surged 38% with daily average traded volumes of 84,787 shares. A strong momentum is witnessed in the stock during the past one month after rising over 62% with daily average volumes of 129,192 shares. On March 31, 2014 XRG announced the completion of a private placement of 11.0 million common shares for total proceeds of $4.95 million. These funds will be used for general corporate purposes.
Company Description:
Xinergy Ltd (TSX: XRG) mines bituminous steam coal in the central Appalachia region. The company currently has operations in Kentucky, West Virginia, and Alabama with permits in place.
1-Year Stock Chart:
Source: Bloomberg
