Danakali Limited (OTCMKTS:SBMSF) Sees Significant Drop in Short Interest

Danakali Limited (OTCMKTS:SBMSF) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 116,200 shares, a decrease of 91.3% from the February 29th total of 1,337,500 shares. Based on an average daily volume of 383,300 shares, the days-to-cover ratio is currently 0.3 days.

Danakali Price Performance

Shares of SBMSF remained flat at $0.21 during mid-day trading on Wednesday. 500 shares of the stock traded hands, compared to its average volume of 203,960. The firm’s fifty day simple moving average is $0.16 and its two-hundred day simple moving average is $0.19. Danakali has a 52 week low of $0.04 and a 52 week high of $0.55.

Danakali Company Profile

Danakali Limited, together with its subsidiaries, engages in the exploration of minerals in Eritrea, East Africa. The company focuses on the development of the Colluli potash project located in the Danakil Depression region of Eritrea. The company was formerly known as South Boulder Mines Ltd. and changed its name to Danakali Limited in June 2015.