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

Practice Stock Trading
Updated: 30 October 2020

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.*

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.

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