The reason for the recent gains of Sierra Resource Group, Inc. (OTC:SIRG) remains still a mystery, though yesterday the share price climbed up again in the middle of the trading session. The last thing heard of SIRG lately was its notification of late filing of the current 10-Q. 
The session yesterday closed at $0.0129 for a share, while the trading volume amounted 10.75 million shares. That close is 3.37% lower than the Wednesday’s, but the stock has gained a lot of value this month. As seen on the chart, SIRG started gaining momentum on Aug. 8 and up to date the share price has increased more than 5 times.
This looks like substantial appreciation, but the thing that makes it look doubtful is the lack of any news or events around SIRG in the past weeks. The only “news” that has come out recently is the filed on Monday notification of late filing of the company’s quarter report for the second quarter of the year.
It is interesting why SIRG is unable to prepare the report on time, since its 10-Q for the first quarter was more than manageable: $0 revenue, $16,610 in cash as the only asset, and liabilities exceeding $1 million. Maybe traders are now hoping that SIRG has to do some major changes on its balance sheet and income statement, so that will take much more time and effort than expected.
