Ardea Resources Limited (OTCMKTS:ARRRF) Sees Large Drop in Short Interest

Ardea Resources Limited (OTCMKTS:ARRRF) was the target of a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 1,000 shares, a decrease of 92.6% from the May 15th total of 13,600 shares. Based on an average daily volume of 7,300 shares, the days-to-cover ratio is presently 0.1 days.

Ardea Resources Price Performance

Shares of Ardea Resources stock opened at $0.28 on Friday. The firm has a 50 day simple moving average of $0.27 and a 200 day simple moving average of $0.24. Ardea Resources has a fifty-two week low of $0.18 and a fifty-two week high of $0.35.

About Ardea Resources

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.