Whereas the S&P/ASX 200 Index (ASX: XJO) is in the red over the past month, GTI shares have jumped 105%.

Let's take a look at what's fuelling this growth.

What's happening with GTI Resources lately?

The GTI Resources share price has been on the move since the company announced the acquisition of Branka Minerals Pty Ltd last month.

Branka is the "holder of [approximately] 22,000 acres of several groups of strategically located and under-explored mineral lode claims and 2 state leases" in the US that are prospective for "sandstone uranium", according to GTI.

As a result of the acquisition, GTI will "control the largest non-US, Russian or Canadian owned uranium exploration landholding in the GDB with around 21,000 acres".

GTI then gave an investor presentation at the beginning of September to highlight the "high potential" projects at its newly acquired site.

In its presentation GTI detailed several investment highlights, ranging from strategy to climate change to the projects themselves.

Investors appear to have adored the company's prospects. The GTI Resources share price soared 147% to a high of 4.7 cents on 16 September, before retracing back down to today's level.

One other factor that is heavily weighing in on GTI's shares is the current price uranium is fetching in the commodity markets.

Uranium's price chart has shot up since mid-August – in perfect timing with GTI's announcements – and now trades at US$49.90 per pound.

That's a 66% gain from the previous low of US$30 per pound on 16 August.

GTI is an ASX resource share that is involved in the production of commodities. As such, its share price can and does fluctuate with volatility in the broader commodity markets.

In light of this relationship, the bombastic price action of uranium, and GTI's recent acquisition, it starts to make sense why the GTI share price has gained more than 100% in the last month.

GTI Resources share price snapshot

The GTI share price has gained 74% this year to date as a result of this past month's recent gains.

In the past week alone, it has climbed a further 11% into the green, well ahead of the benchmark indices.

This is also well ahead of the broad ASX 200 index's gain of around 14% since January 1. As uranium continues to fetch such high prices, GTI appears to be one of the beneficiaries.

The post Why the GTI Resources (ASX:GTR) share price has boomed 100% in a month appeared first on The Motley Fool Australia.