The price of Goldsands Development Co. (OTC:GSDC
, GSDC message board
) has been going up since a press release was issued on Jan. 25.
Yesterday GSDC managed a close at $0.089, up 28.99%, with 763 thousand shares changing hands.
The announcement which started this was about the possibility of a joint venture with Mineros S.A. Mineros is a Colombian gold producer mostly focused on alluvial gold.
The companies entered into an agreement which allows Mineros to do their due diligence through Apr. 30. After the due diligence is completed Mineros will have up to 10 days to decide whether to terminate the agreement or go through with it.
There is some time until Mineros will have to decide what to do but, apparently, all the activities related to the due diligence won't cost GSDC anything, and if Mineros chooses to go on with the plan GSDC still won't have to provide significant financing.
This is definitely not bad news for GSDC shareholders. Still, it may take some time until it's clear whether it will turn out to be just temporary excitement, or in fact, something really good.