American Pacific Mining Corp (OTCMKTS:USGDF) Stock Rockets 23% in a Week: But Why?

During the course of the past week, American Pacific Mining Corp (OTCMKTS:USGDF) has come into the attention of many investors and that becomes even more apparent from the price action in its stock.

Over the past week, the American Pacific Mining stock has moved strongly and managed to clock gains of as much as 23%. Yesterday the company announced that a unit of Rio Tinto Group named Kennecott Exploration Company flagged off an Unmanned Aerial Vehicle Magnetic Survey for the Madison Copper Gold Project that is owned by American Pacific Mining. The survey is aimed at actually defining a detailed magnetic signature at the property.

It is an important study and is going to provide a highly detailed magnetic signature in the area. That, in turn, is going to give American Pacific Mining with the exact skarn hosted drill targets at the property. In this regard, it is perhaps also important for investors to keep in mind that when it comes to the Madison Project, the company has a joint venture earn in agreement with Rio Tinto. By way of this agreement, Rio Tinto may spend as much as $30 million on the project and stand to earn as much as 70%.

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