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.
Sumatra Copper & Gold 22% price spike prompts ASX price and volume query
Sumatra Copper & Gold (ASX: SUM) received a price and volume 'please explain' from the ASX with a 22% jump to $0.38 in intra-day trading yesterday, up from $0.31 on the previous trading day.
The company said it is not aware of any information that has not been announced which could explain the sudden interest, but did however state:
'As set out in the company’s presentation to investors as released to the ASX on 5 April 2011 and further to the company’s 28 March 2011 ASX announcement ‘Updated Resource for Tembang Project’ the company is transitioning from an explorer to an emerging producer, underpinned by an updated resource statement at the Tembang project of more than 1 million ounces of gold and 13 million ounces of silver.
'The company's presentation to investors highlights these facts and, together with the appreciation of both the gold and silver commodity prices, may account for some portion of the buying activity.'
The Tembang Gold and Silver Project is located in central Sumatra, Indonesia. The updated resource allows the Pre-Feasibility Study to be completed with the scope of the project finalised for the Definitive Feasibility Study (DFS), scheduled to commence in the second half of 2011.
Sumatra Copper & Gold is currently trading at $0.375.



















