The ASX noted King River’s move from 6.3 cents on Friday up to 9.6 cents earlier today, an increase of over 50%.
A significant increase in volume over this period was also noted by the ASX.
Company not aware of any material information not already in the market
King River today responded saying it was not aware of any information concerning it that has not been released to the market that might explain the increase in price and volume.
The company did note its recent releases detailing purity result on its vanadium and titanium, and the new fluorspar JORC resource.
Testing recently revealed 99.48% purity vanadium and 99.5% purity titanium at the Speewah project in Western Australia.
Importantly, the purity results have boosted the capability of the project’s product to meet vanadium flow battery (VFB) market requirements.
Metallurgical optimisation work on the 4.7 billion tonne JORC resource of vanadium, titanium and iron is ongoing.
An initial concept/scoping study is expected to be available early in April 2018.
Elsewhere drilling for gold is about to commence
King River has also engaged its field geologists to reactivate the Mt Remarkable gold exploration programs in April.
Reverse circulation drilling is booked for May 1 and diamond drilling booked for the third week of May.