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.

Interested in more info on Gold Resource? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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