Last week brought a rally in gold that generated a price breakthrough as gold smashed through its $1800 resistance level on Thursday, to set the stage for more gains to come. The double bottom that formed in March is now fully confirmed and last week also saw a surge in big cap mining stocks like Hecla Mining. The trend is up and now the rally is spreading into select small cap mining stocks, which are seeing volume bursts and price gains too.
Take a look for instance at shares of Sonoro Gold (OTCMKTS: SMOFF).
Shares of Sonoro Gold saw a huge volume increase on the Canadian stock exchange and nice a move too on the US OTC. There was no news that day to drive the rally. Perhaps it was just traders seeing the triangle breakout pattern on the chart, or people simply realizing that a new metals rally is starting and getting into more stocks in position.
There was news on Sonoro a few weeks ago, on April 26, when the company reported more great drill results within the Cerro Caliche gold concession.
And Friday also saw a nice rally in shares of Pacific Ridge Exploration (OTCMKTS: PEXZF), which closed last week out at a new 52-week high.
Pacific Ridge Exploration was my top stock pick last month and I still own my shares. Last week the company announced “that it has entered into an agreement to acquire 100% of the RDP copper-gold porphyry project in central British Columbia, approximately 40 km west of its flagship Kliyul copper-gold project.”
“With the acquisition of RDP, Pacific Ridge now has three drill-ready copper-gold projects in its property portfolio,” said Blaine Monaghan, President and CEO of the Company. “Pacific Ridge is well on its way to becoming one of BC’s leading copper-gold exploration companies. The Company will mobilize a field crew to RDP this summer while the drill program is underway at Kliyul. Pacific Ridge expects the drill program at Kliyul to commence sometime in July.”
Pacific Ridge is expanding its portfolio and increasing its value with such moves.
Friday also brought with it a 7..69% gain in Xtra-Gold Resources Corp (OTCMKTS: XTGRF) too.
Shares of XTGRF haven’t yet gotten away from people and are still a good buy here, in my view. This company is already generating gold sales and has no need to raise more money. You can read my first post on it, profiling it here.
Disclosure: Mike Swanson owns shares of, Sonoro Gold, Pacific Ridge Exploration, and Xtra-Gold. Because all three are small cap stocks with a market cap of less than $100 million he has put himself in a trading blackout on each of them and will not buy or sell a share of it for at least 30-days from the date of this post (05/09/2021). Wallstreetwindow.com, is owned by Timingwallstreet, Inc., which is being compensated by a third party (Leadgopher LLC DBA Pinnacle Ad Network) to conduct an investor awareness advertising and marketing campaign for Xtra-Gold Resources. This third party paid Timingwallstreet Inc., $12,000 to produce and disseminate this and other similar articles and send traffic to them through paid advertising campaigns for 30-days from the date of this post (5/02/2021). He also has done similar investors awareness campaigns for Pacific Ridge Exploration in April and Sonoro Gold in January. This compensation should be viewed as a major conflict with our ability to be unbiased, more specifically: This communication is for entertainment purposes only. Never invest purely based on our communication. For more on trading risks read our policy statement by clicking here.