Northern Star Resources (ASX: NST) popped up on the ASX radar this week when the company's shares spiked 15% to an intra-day high of $1.105 yesterday, up from a low of $0.96 on Tuesday February 14.
Northern Star said that there was not material information that has not been released to the market which may explain the sudden investor interest.
There is a good reason for investors liking the company, which is currently producing at an annual rate of around 80,000 gold ounces from the Paulsens mine in Western Australia, which was only acquired in mid-2010.
The company had nearly $42 million cash on hand at the end of 2011, which is a big turnaround from two years earlier when the company was trading at less than $0.03 with a market cap. in the millions.
Northern Star current valuation is over $380 million