GSTP

Gold Standard Mining (GSTP) Is Showing Surprising Gains

Shares of Gold Standard Mining Corp (OTC:GSTP) are showing heavy volume with sudden sharp spike up. The stock has climbed 93.33% to $0.145 on hefty volume of 2.86 million shares – 15X its average volume of 168K shares.

There is now official news, which could justify such sharp rally, however it looks like there could be some promotional newsletter.

If we look at GSTP’s background, Gold Standard Mining don’t have any active business till date and is planning to acquire some gold mining properties or companies in Russia.

GSTP has recently appointed Novichkov Oleg Petrovich as the Company’s Vice President, who will responsible to look after its Russian Operations

In the past, shares of GSTP smashed from $2.10 in late October of the last year to as low as $0.50 in Mid December, 2010.

GSTP’s Rise

After today’s rise, GSTP stock has crossed its 50-Day Moving Average price of $0.11, but still trading well below its 200-Day Moving Average of $0.42.

GSTP had a total outstanding shares of 151.63 million. The company had no revenue with a loss of $6.17 million or 4 cents a share with operating cash flow of -$107.62K.

Although last weeks rise looks suspicious, but it would be interesting to see if the market makers would be able to hold with such gains going forward or this is going to be a one day pleasure.

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