In the last session, RIV moved only 1.23% up and finished the day at $1.65. This is well below the record price of $2.82 that the shares deposited in mid-January. Nevertheless, the company’s managers must have been pleased with the trading volume realized by the stock. Yesterday, more than 1.16M shares changed hands, with the buyers ultimately taking the edge over the sellers.
Riva Gold has not issued any news lately, so there is nothing to explain the behavior of the shares. Possibly, some investors decided to exercise the options the company granted them last November – this might be one probable reason for the increased trading activity of the stock.
Riva is a relatively new company for the TSX Venture Exchange. It commenced trading on the CVE last October. Until July, 2010, Riva was a wholly-owned subsidiary of Wildcat Silver Corporation and was formed for the purpose of acquiring Mammoth Minerals Inc. Wildcat and Riva completed the acquisition of Mammoth and the spin-out of Riva effective on July 19, 2010.
The only announcement released by the company in 2011 was from early March, when Riva announced commencing a diamond drill program on its Nine Mile project, a trenching program on its Honey Camp deposit and airborne geophysics on both its Nine Mile and Honey Camp properties situated in Guyana.
The future performance of the shares is hard to be determined in the lack of enough information. Probably, this is something that the company will have to change in the future. It will perhaps have to issue news more regularly – in order to inform the public about the development of its numerous projects, or to shed more light on the periodic jumps in the stock’s trading activity.
At least, traders might learn additional details about the company from the latest presentation, found on Riva’s website.
