White Cliff Minerals (ASX:WCN) was yesterday issued a price query from the ASX after its shares jumped 40% to an intra-day high of $0.007.
The ASX also noted the increase in the trading volume of the company’s securities yesterday to a level that is significantly above the average trading volume.
In response to the ASX query, White Cliff commented that it wasn’t aware of any information that hadn’t already been released to the market that would explain the recent price and volume spike.
White Cliff is currently awaiting drill results from its high-grade 90%-owned Aucu gold deposit in north-west Kyrgyz Republic.
Aucu currently hosts an Inferred JORC Resource of 1.8 million tonnes at 5.2 g/t for 302,000 gold ounces.