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 precious metals explorer Gold Resource (AMEX: GORO) climbed 10% in intraday trading Monday after announcing the acquisition of a sixth property at its Oaxaca Mining Unit.

So what: With the new addition, Gold Resource now has a 100% working interest in about 61,000 hectares in Oaxaca, Mexico. "After much work and patience," President Jason Reid said, "we have methodically consolidated a dominant land position now connecting five properties on what we believe will become one of the most important mineralized structural corridors in southern Mexico."

Now what: I'd remain cautious about jumping into the stock. Although today's acquisition serves as a nice increase to its land holdings, Gold Resource's lack of cash flow and profits continue to make it a highly speculative pick. And with the shares up a whopping 425% over the past two years, currently trading at a price-to-book of 22, it seems like an expensive one at that.

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