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Additional Information
Market:ASX
Sector:General Mining
EPIC:DUO
Latest Price: 0.12  (0.00%)
52-week High:0.29
52-week Low:0.11
Market Cap:32.13M
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Dourado Resources

Dourado Resources (ASX: DUO) is a Perth based exploration company that has been established to predominantly explore for deposits of gold, copper and uranium mineralisation.

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Dourado Resources 29% share spike prompts ASX 'please explain'

Friday, February 25, 2011
Dourado Resources 29% share spike prompts ASX 'please explain'

Dourado Resources (ASX: DUO) shares spiked 29% to an intra-day high of $0.225 yesterday, from a closing price of $0.175 on Tuesday 22 February, on increased volume, prompting an ASX speeding ticket in the form of a price and volume query.

The company said there was no material information that has not been released which may have sparked the sudden investor interest.

Dourado did however state in a response back to the ASX:

'The announcement on 23 February 2011 advised the market that the company was no longer a substantial shareholder of Aurium Resources Limited following the sale on market of a significant number of Aurium shares.

'The consequences of this sell down are a positive impact in cashflow in the immediate term and in the longer term on net profit.

'The announcement on the 21 February 2011 advised the market of the successful listing on 17 February 2011 of the company's wholly owned subsidiary Eclispse Uranium Limited.'

Eclispse Uranium (ASX: EUL) this week kicked off initial scout drilling at the Eclipse Uranium Project in the Northern Territory, with exploration focused on uranium and rare earths.

Initial exploration will consist of 24 holes for 2000 metres, targeting radiometric anomalies on the southern margin of the Ngalia Basin.

Dourado holds a 38.18% stake in Eclipse.

Dourado shares closed last night at $0.22, with Eclispse $0.21, slightly up on the IPO listing price.

 

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