Additional Information
Market: ASX
Sector: General Mining - Gold
EPIC: SUM
Latest Price: A$0.09  (-5.56% Descending)
52-week High: A$0.27
52-week Low: A$0.09
Market Cap: A$16.20M
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Sumatra Copper & Gold
www.sumatracoppergold.com

Sumatra Copper & Gold plc (ASX:SUM) was established in 2006 to explore for, and develop, gold-silver and copper-gold mineral deposits on the Indonesian island of Sumatra. The Company has an economic interest of 92.5% in its projects. Sumatra’s assets include a mineral resource of some 2.15 million ounces of gold and 24 million ounces of silver reported to JORC Code standards, with further exploration targets identified.

Pdf

Sumatra Copper & Gold shares soar 41% prompting ASX price query

21st Feb 2011, 5:09 am

The share price of Sumatra Copper & Gold (ASX: SUM) soared 41% to $0.29 in intra-day trading last Friday, from a low of $0.205 a day before on Thursday 18 February.

The company said it was not aware of any material information which may explain the sudden investor interest in the stock.

Sumatra Copper did however quote in a response back to the ASX:

'The company is aware that stock broking firm DJ Carmichael has initiated coverage of the company and issued a research note following market closure on Thursday 17 February 2011 containing a speculative buy recommendation and a valuation of A$0.91 per share.

'Further, DJ Carmichael has informed the company that more than 2.4 million shares were traded in the company directly by DJ Carmichael brokers on Friday 18 February 2011.'

In morning intra-day trade today, the stock last changed hands at $0.28.

 

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