African Rainbow Minerals Limited (OTCMKTS:AFBOF) Short Interest Update

African Rainbow Minerals Limited (OTCMKTS:AFBOF) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 198 shares, a growth of 102.0% from the April 30th total of 98 shares. Based on an average daily trading volume, of 19 shares, the days-to-cover ratio is presently 10.4 days.

African Rainbow Minerals Price Performance

OTCMKTS:AFBOF opened at $14.50 on Monday. African Rainbow Minerals has a fifty-two week low of $9.47 and a fifty-two week high of $15.00. The firm’s fifty day simple moving average is $14.71 and its 200-day simple moving average is $12.98.

About African Rainbow Minerals

African Rainbow Minerals (OTCMKTS:AFBOF) is a South Africa–based diversified mining and beneficiation company with a portfolio spanning ferrous metals, base metals and precious metals. The company’s principal operations include the exploration, extraction, processing and marketing of iron ore, manganese, chrome, platinum group metals and gold. Through a combination of wholly owned operations and strategic joint ventures, African Rainbow Minerals participates in every stage of the mining value chain, from resource evaluation and mine development to downstream smelting and refining.

The company holds majority interests in several prominent mining assets in South Africa, including iron ore and manganese operations in the Northern Cape and chrome and platinum group metals projects in the Bushveld Complex.