Orbite Aluminae Inc. (TSX: ORT), a
Canadian cleantech company, has witnessed a strong share price momentum, rallying over 235% from its all-time low of C$0.20 touched in March this year. The company’s shares climbed over 11% during the last two consecutive trading sessions with significant number of shares exchanging hands on the possibility of getting finance. During the last trading session, ORT was among the top performers in the Canadian diversified metals & mining sector after gaining 11.7% and ended at C$0.67 while recording huge volumes of 7.6 million shares. During the last 5-trading sessions, ORT jumped 47.3% with 5-day average trading volumes of 3.2 million shares, while the stock accumulated over 91% during the past one month with daily average trading volumes of 1.8 million shares. As per the article published by http://www.midasletter.com, the stock is moving higher on the possibility that the company may get financing for construction of its plant from Glencore PLC (LON: GLEN). After a pile of setbacks, the future prospects of the company have been improving fundamentally as it is working on a new feasibility study, that, while demonstrating higher costs, and poorer economics than its former PEA, nonetheless makes the companies ambitions appear viable.
Company Description:
Orbite Aluminae Inc. (TSX: ORT) engages in the exploration and development of mineral deposits in Quebec, Canada. The company uses technologies to enable the extraction of metallurgical-grade alumina, high-purity alumina and high-value elements, including rare earths, from locally sourced aluminous clay, in an environmentally sustainable manner.
1-Year Stock Chart:
Source: Bloomberg
