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: Great Basin Gold
So what: A few months of stock momentum has turned into a bonanza as the Blanket Zone above the Main Clementine vein No. 18 has yielded average fully diluted value in the muck samples of 22.3 oz/ton gold and 23.4 oz/ton silver. The company released these results because locals around the mine were aware of the results.
Now what: Great Basin is currently drilling to determine the full extent of mineralization in the Blanket Zone, but initial results are positive. These results could provide a further catalyst as more mining data become available and investors get a chance to digest the news. I'm buying this move because not only are the Blanket Zone results a positive, gold prices seem to be on an endless run upward that this Fool just can't bet against.
Interested in more info on Great Basin Gold? Add it to your watchlist by clicking here.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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