Skip to content
Home / News |

Orosur Mining Shares Surged 27.9% Today, Here’s Why

Orosur Mining logo
Simon Mugo

Shares of Orosur Mining Inc (LON: OMI) today surged 27.9% despite the lack of news catalysts from the mining company, which released its Q1 2021 earnings results on October 19th triggering a major spike.

The company’s fundamentals are quite strong given the rising gold prices and the various payments its set to receive from its partnerships with other companies such as the $528,000 the company is expecting from Agnico by the November 7, 2020 deadline.

Other expected payments include a total of $4 million set to be paid to Minera Anzá for the exploration programme that is being funded by Agnico. It is such payments, which make Orosur an attractive investment target for long-term investors.*

X testing X
WELCOME BONUS - Free Share Bundle When You Invest £50! Get up to £500 cashback for investing with IG.
Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.
5.0
Open Account Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Orosur’s future prospects look very promising and today’s rally coincided perfectly with a bounce off the 20-day moving average, which is currently acting as support for the firm’s share price.

Orosur Mining share price

Tradingview chart of Orosur Mining share price 30102020

Orosur Mining shares today surged 27.9% to trade at 33.9p having rallied from Thursday’s closing price of 26.5p.

People who read this also read:

Simon Mugo
Simon Mugo
Contributor

Simon ist Autor und Analyst für den Bereich Finanzwesen und blickt auf über sechs Jahre professionelle Erfahrung als Trader zurück. Er absolvierte einen Bachelor in Mathematik und Informatik und hat eine Leidenschaft für die Finanzmärkte. Simon handelt FX, Rohstoffe und Aktien. Er konzentriert sich auf Price Action Trading.