Why Shares of Gold Resource Corporation Popped Today
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Gold Resource Corporation jumped 10% today after updating drilling results.
So what: At the Arista deposit in the El Aguala Project in Mexico the company announced discoveries from a new vein. Results showed 2.67 meters of 13.9 grams per tonne of gold and 3,228 grams per tonne of silver along with other base metals as well.
Now what: This continues to expand the potential of the Arista and Baja veins as drilling expands. Gold Resource is also returning cash from the production to shareholders, to the tune of $95 million since 2010. It's solid resource results like this that will provide the production needed to keep those returns coming.
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