Stock shooting upwardIn September the stock reached $8.22, but then started falling, along with gold, which had started moving down in August. It recently fell under $4 a share, a loss of over 50%. Five days ago it started edging upward, then yesterday it went up 20 cents and today it took off, accellerating upward all day long and closed up 78 cents, ending at $4.98. And then it kept trading for three hours after the market closed, closing up another 10 cents, finishing at $5.08 a share in after hours trading. In addition to that, its bid and ask at the end of trading, were higher than its closing price.
It's underground ramp recently reached the Silvia vein and possibly there is a report coming out on the results of the new ore that is available. GORO may also be considering raising its dividend. The dollar has been rolling over downward the last 7 trading days and gold has been climbing. The number of gold bulls recently fell to 4%, the lowest reading in years, even lower than during the recent gold bear market. Everyone that wants to sell has already mostly sold, and so the only ones left, are those that may want to buy. Gold may be back on its way up, and the last time gold was in a bull market, GORO's dividend was much higher than now. If either GORO's ore content is improving because of the ramps completion, or if it is raising its dividend, that could be a catalyst to send its stock price higher, so you might want to contemplate buying more shares.