Great Basin Gold Breeches Resistance

Shares of Great Basin Gold

are moving higher this afternoon; currently, shares are higher by 3.43%, trading at $2.11. Great Basin Gold has been trading in a tight range for the past two weeks following a sharp pop higher. Shares have been consolidating below the 50-day moving average, but are breeching that level to the topside today. This move clears Great Basin Gold to move higher, toward the 200-day moving average, which is trading ~$2.30. Share volume is running at 1.7 million shares; the 10-day daily average volume is 1.5 million shares. Note that ISTA Pharmaceuticals has 2.77% short interest. Great Basin Gold Ltd. is a mining company engaged in the acquisition, exploration and development of precious metal deposits. The company has two material projects, one of which is at the test-mining stage, namely the Hollister gold project, which is located on the Carlin Trend goldfield in Nevada, USA and the other one the Burnstone gold mine, which is located in the Witwatersrand Basin goldfields in South Africa.