Alkane Resources (ASX: ALK) shares spiked 32% to $1.54 yesterday, from $1.165 a week earlier, on increased volume, prompting an ASX speeding ticket in the form of a price and volume query.
The company said there is no material information that has not been released to the market which may explain the sudden investor interest.
Alkane though in a response to the ASX did state:
'On 4 March 2011 Standard and Poor’s announced their March quarterly rebalance of
S&P/ASX indices stating that Alkane Resources ordinary shares have been
included in the All Ordinaries Index.
'On 4 March 2011 the company released an updated corporate presentation prior to an investor roadshow in North America.
'The company is aware that RBS Equities (Australia) Limited released a positive equity research paper to their clients on 3 March 2011.'