Eurasia Mining (LON:EUA) told investors it knew no reason for the rise in its share price on Friday.
Any investors needing a clue can look to Amur Minerals and the doubling in the AIM peer’s value after the Russian authorities granted a long awaited mining licence for the Kun Manie copper and nickel project.
Amur, like Eurasia, has been working through the Russian mine permitting process for a number of years.
Eurasia is currently waiting for a mining licence for its West Kytlim platinum project.
On AIM, Amur shares more than doubled in Fridays trading up to highs of 21.5p, though at 2pm were changing hands at 17.75p which is a gain of about 77% for the day. Eurasia shares, meanwhile, climbed 0.05p, 8.3%, to trade at 0.65p and had been as high as 0.8p earlier.