Short Interest in Ardea Resources Limited (OTCMKTS:ARRRF) Increases By 438.1%

Ardea Resources Limited (OTCMKTS:ARRRF) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 74,800 shares, a growth of 438.1% from the September 30th total of 13,900 shares. Based on an average daily volume of 53,300 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily volume of 53,300 shares, the days-to-cover ratio is currently 1.4 days.

Ardea Resources Stock Performance

Shares of OTCMKTS ARRRF opened at $0.41 on Thursday. Ardea Resources has a 52-week low of $0.18 and a 52-week high of $0.46. The company’s 50 day moving average price is $0.35 and its 200-day moving average price is $0.30.

Ardea Resources Company Profile

Ardea Resources Limited engages in the evaluation, exploration, and development of mineral properties in Australia. The company explores for nickel, cobalt, scandium, gold, PGEs, and copper deposits. It holds 100% interest in Kalgoorlie Nickel Project (KNP) located in the Kalgoorlie, Western Australia that comprises nickel, cobalt, and scandium laterite mineral resources, as well as and nickel sulphide and critical projects; the Kalpini Project is located in the City of Kalgoorlie-Boulder that covers approximately 121 square kilometers; and the Bardoc Tectonic Zone Gold Project, which has nickel sulphide prospects.