Dateline Resources Ltd (ASX: DTR) shares are rocketing higher again on Tuesday.
The Dateline share price is currently up 34.41% to 12.5 cents after climbing as high as 14 cents earlier in the session.
That follows Monday’s enormous 47.62% gain, when the gold and rare earths explorer jumped from 6.3 cents to 9.3 cents.
It’s been quite a turnaround after the stock traded near its 52-week low earlier this month.
In fact, anyone who invested $5,000 in Dateline shares just one week ago would already be sitting on a pretty impressive profit.
So, how much would that investment be worth today?
What would $5,000 be worth today?
Dateline shares finished last Tuesday 22 September at just 6.5 cents.
At that price, a $5,000 investment would have bought approximately 76,923 shares, excluding brokerage costs.
Fast forward one week and those shares are currently changing hands for 12.5 cents each.
That means the original $5,000 investment would now be worth approximately $9,615.
That’s a profit of around $4,615 in just one week, representing a return of roughly 92%.
And it could have been considerably more for anyone who managed to sell near today’s high.
At today’s intraday high, those shares would have been worth approximately $10,769.
That’s more than double the original investment in the space of a week.
So, what’s behind the incredible run?
Why are Dateline shares taking off?
The rally really picked up on Monday after Dateline provided another update on its Colosseum Gold and Rare Earths Project in California.
The Department of Justice has stepped in, asking the court to suspend the injunction that has stopped work at Colosseum.
The injunction has been in place since 10 August following legal action from environmental group, National Parks Conservation Association.
The US Government wants Dateline to be able to get back to work while the appeal continues.
It argues that keeping the project on hold is hurting US national security interests, particularly given Colosseum’s rare earth potential.
Where to from here?
After nearly doubling in a week, Dateline shares have certainly caught the market’s interest.
But there’s still a big hurdle ahead.
The court is scheduled to hear the applications to suspend the injunction on 26 October.
If successful, Dateline could get back to work at Colosseum while the appeal continues.
Until then, I’d expect plenty more movement in the Dateline share price as investors weigh up what could happen next.
The post Invested $5,000 in Dateline shares a week ago? Here’s how much you’d have now appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.