Gold prices have been on an upswing this week, and it seems gold stocks are following suit. Today, there is one gold stock that is dominating the TSXV. Let’s take a closer look at it and why it’s trending upward.
Gold Stock Upswing: Radius Gold Inc. (TSXV:RDU)
Radius Gold engages in the acquisition and exploration of mineral properties in Latin America and the US. The mining company is headquartered in Vancouver, British Columbia. Radius mines for both gold and silver. The company currently holds mining operations in Nevada, California, and Guatemala.
This morning, the gold stock announced the results of its initial drill program in its Amalia project in Chihuahua, Mexico. The announcement explains:
“The nine hold 1909m diamond drill program was completed by Radius and funded by Pan American Silver under a joint venture agreement. Three target zones (Campamento/San Pedro, Guadalupe, and Dulces) were tested across a strike length of 1.8km following the trace of a large regional fault and associated splays hosting high-level epithermal gold and silver mineralization.”
Radius now has mining operations across the Americas. With the positive outcomes of the initial drilling holes in its Mexico project, the company’s expansion is headed in the right direction. To date, Radius’ told market cap is just over $10.8 million.
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Gold Stock Movement
According to Yahoo Finance, RDU closed the market yesterday at $0.095 a share. This morning, the gold stock opened at $0.125 a share, after investors caught wind of the company’s latest drilling results. At press time, RDU is trading at $0.125 a share still, up +$0.030 (+31.58%).
Radius is currently the fourth-largest stock trading by volume on the TSXV today. There has been $1.74 million in volume pumped into RDU today. It remains unknown if gold trending upward also influenced investors to buy into Radius stock today.
Featured Image: Depositphotos/© aberheide
