QEM Ltd (ASX:QEM) shares were up 10% on Wednesday . The company traded as high as A$0.11 ($0.08) and last traded at A$0.11 ($0.08), approximately 100,000 shares were traded during mid-day trading. The stock had previously closed at A$0.10 ($0.07).
The stock has a market cap of $11.00 million and a PE ratio of -2.97. The business has a 50-day moving average of A$0.11.
In related news, insider David Fitch acquired 741,019 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was bought at an average price of A$0.13 ($0.09) per share, for a total transaction of A$93,368.39 ($66,218.72).
QEM Limited engages in exploring and developing a vanadium and oil shale project in Australia. It holds a 100% interest in the Julia Creek project comprising 3 exploration permits that covers an area of 176 square kilometers located in the Julia Creek area of North Western Queensland, Australia. The company was formerly known as Queensland Energy & Minerals Pty Ltd and changed its name to QEM Limited in August 2018.
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