Price on any given day is just what buyers and sellers...

Price on any given day is just what buyers and sellers collectively are doing. It's market sentiment. Sometimes there is momentum, sometimes there is none (eg. 2016 gold sector no one cared about gold stocks at all).

Too many people read into it. Sometimes traders will react to overnight gold price (it fell a fair bit last night). Sometimes they will react to company-specific news. Often people 'sell the news', as there can be built-up expectations in the shareprice. Sometimes people sell because they need to free up money to put into something else. Just because a company releases an announcement, it never guarantees that it will put a rocket under the shareprice.

EAR's results today are nothing too groundbreaking on previous announcements. While the drill result in the Orelia pit of: 22 metres @ 40.1 g/t Au from 67 metres is very, very good. It's not really any 'new' news as similar holes have been done in the Orelia pit in recent months.