With no disclosed promotions, alerts of any official news from the company, it looks like last week CDCH just picked up the magnificent rise of MDMN share price and delivered an ever stronger and faster price increase. The shares of CDCH shot another yearly high in the last trading session of the year, receiving unprecedented for the past three years share volume and a new high at $0.24 for that same period of time. CDCH closed the year at $0.196 with a 21.74% jump in the share price and a trading volume of 3.42 million shares.
Cerro Dorado has not published any financial or operational data whatsoever. According to investorshub.com, the company is a junior mining company holding gold, copper and silver claims named “The Alto De Lipangue Project” in Chile. The relationship with Medinah Minerals appears to be that particular adjacent claims to MDMN Alto De Lipangue project.
Moreover, it looks like the same JV rumors that made MDMN share price soar are also behind the gains of CDCH. Cerro Dorado got a similar “Shareholder Update” published on ihub online message board last week, almost simultaneously to the “update” of Medinah, both letters being signed by the same person named Juan José Quijano Fernández, the President of MDMN.
Like MDMN whose price action may have exhausted by now, CDCH shares also do not have so much chances for a further increase. Long-term, both stocks have rarely overcome the $0.05 level, thus if no reliable information about a JV Agreement comes out only the pump and dump speculations may remain.
