Macarthur Minerals Limited (CVE:MMS) (PINK:MMSDF) graduated to the Toronto Stock Exchange on October 14 and opened a new page for traders.
MMS trading symbol remains unchanged, but the stock received new ISIN and CUSIP numbers.
The stock has been on a steady decline since the beginning of 2011 and had recently passed below an important support of $1.5 per share. Shares attracted a lot of attention from traders just before the graduation and added 8% under the heaviest trading volume of the year , which topped 2.7 million.
The graduated stock theoretically should be more attractive to investors and provide additional liquidity for the vaguely trading MMS. Listing the stock on TSX means it can be considered by more institutional investors. Being on TSX also raises the quality of the shares and makes it easier to sell capital stock.
MMS added 4.4% on their first trading day on the Toronto Stock Exchange and finished the session at CAD$1.41 per share.
Macarthur Minerals is a development stage company with main focus on iron ore project in Western Australia.
