There will be at least some buyers from the placement earlier this year will have got nervous as the price went well below the issue price of $1.05. They will have decided to exit out at something around or just above break-even. Also, it wasn't that long ago that shares came out of escrow so there could be other escrow-based shares where they have decided to sell at something above $1 as its one of those psychological levels.
It was always going to take a bit of volume going through to clear and stay above both $1 (psychological) and $1.05 (capital raise) sellers.
Every day with good volume will help complete this cycling out from old shareholders to new shareholders. Until complete, daily gains may well be limited. Then at some stage and it may or may not coincide with a big announcement, the selling will thin out but the buying will continue (because fundamentally it's a really good story). This will have the price travelling upwards again and challenging all-time high's.
Well that's the way I see it working out, but anything is possible.
GT1 Price at posting:
$1.06 Sentiment: Buy Disclosure: Held
