Staccato Gold Resources Limited gains 31.25% in a single day, having burst to life on the back of a gold price that gained $21.82 to close at $927.92/oz.
This is a speculative buy in our portfolio as this is a small company with a market capitalisation of $15.96 million. This stock has been as low as $0.16 and as high as $0.69 over the last 52 week period, so volatility is its middle name and its not for the faint hearted. There has not been a news release since 24 January 2008 that we are aware of so this sudden jump comes as a surprise to us, but a nice one.
Volume was 679,557 shares traded compared to a more normal days trading of around 100,000 or so. We will see what the rest of the week brings and report later.
Staccato Gold Resources Limited trades on the Toronto Venture Exchange under the symbol CAT.V
Have a good one.
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