"I am constantly puzzled by ORE's performance in relation to VTR. Why ORE is moving up nearly 10% today without any news? And its market cap is doubled that of VTR. Even now, ORE has less oz of Au than VTR and less cash. Both will have BFS in Q3 this year. Can some longs here help explain why that is?"
IMO, ORE simply has better share dynamics. Maybe some of the regulars can better pinpoint VTR's institutional and insider percent ownership but with 155M shares outstanding, shares in the public float far exceeds that of ORE's. In regards to ORE, you have 5% insider ownership and 50% institutional ownership thus leaving 45% of shares outstanding in the public float. With 85M shares outstanding, the public float equates to 46.7M shares or so. Of that 46.7M shares or so, there must be a good percentage of retail holders that are long the stock because it is thinly traded. With those dynamics in mind, a little buying pressure can send the stock 10% higher and a little selling pressure can send it 10% lower. Such dynamics also better assists in maintaining market cap valuations.
In the case of VTR, I'm not one to proclaim manipulation. Someone out there has some shares to sell and retail interest is lacking. With the news of late, one would think that VTR would be attracting greater interest. The overhang, as a best guess mind you, must be financing. Until something more solid as to financing is announced that reduces the fear of investors as to massive dilution, VTR is apt to languish. But that then begs to question why ORE's market cap is double that of VTR's. They too face the propsect of massive dilution but have 70M or so more shares to give to arrive at the shares VTR has outstanding. And of cource, a higher stock price that denotes less in the way of dilution.