2010-06-11

Nevsun (NSU) pops

One of the gold miners I bought on May 6, Nevsun (NSU), popped today.

The company says they are"not aware of any material undisclosed development that would cause the significant upward movement of the Company's share price."

The proximate reason is as plain as day for anyone watching the company: volume is currently 3.5 million shares now over 3.8 million shares with 10 minutes to go in trading, well over the 620k average volume over the past three months and also a new all-time high. Volume last exceeded 3 million on March 19. The previous all-time volume high was on June 19, 2009, at 3.7 million shares (those two days are the only other two over 3 million in volume).

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