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 gold producer Gold Resource (AMEX: GORO) were glittering today as investors pushed them up as much as 11% in intraday trading.

So what: The boost today builds on gains from yesterday as investors were apparently cheering the company's announcement of a new land grab. Today, Gold Resource said that it has launched two new exploration programs in its Oaxaca mining unit. The projects will take place at the company's El Rey and Alta Gracia properties. At El Rey, the company hopes that the program will allow it to conduct simultaneous development and exploration of the area.

In addition, the company issued a press release stating that it held its annual meeting today. In that release, Gold Resource President Jason Reid said that "second quarter 2011 is expected to set new production, revenue and earnings records as the Aguila Project is progressing well."

Now what: I'll freely admit my bias: I prefer investing in companies that make money. Gold Resource does not fit that bill at all. That doesn't mean that all investors should avoid it, but those chasing these shares should recognize the speculative nature of their bets.

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