Thor Mining (ASX: THR) shares hit $0.08 in intra-day trading yesterday, almost double the $0.041 on Tuesday 22 March, prompting as ASX price query.
The company said there is no material information that has not been released to the market which may explain the sudden investor interest.
Thor did however quote in the company's ASX response:
The directors of Thor have noted that the pricing of the company quoted securities on The Australian Securities Exchange, and the Alternative Investment Market (“AIM”) of the London Stock Exchange, has risen in the past few days and offer that either or both of the following factors may have influenced the price and volume of the THR securities:-
- The current high market price for gold;
- The recently announced commencement of drilling at the Dundas Gold Project, in the Albany Fraser Belt near Norseman, in Western Australia;
- The announcement in January of an agreement to acquire an interest in the Spring Hill Gold Project near Creek in the Northern Territory; and
- The continued strengthening of the quoted international price for tungsten (Reference Metal Pages.com) and its potential for a positive impact on the economics of the Molyhil Molybdenum/Tungsten project in Northern Territory.