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Traka Resources' shares surf higher on proximity to Quicksilver nickel-cobalt discovery

The halt will remain in place until Tuesday 21st November 2017.

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The company's shares are in pre-open

Traka Resources Ltd (ASX:TKL) shares soared 74% to $0.073 intra-day on Friday compared to the previous sessions lows, before the company received an ASX speeding ticket in the form of a price query.

Traka stated back to the ASX it was not aware of any information not released to the market which could explain the trading.

The company did however note in its response that it has applied for two exploration licences covering areas north and south of the recent Quicksilver nickel-cobalt discovery by Golden Mile Resources Ltd (ASX:G88) in the Lake Grace region of Western Australia.

Traka intends to evaluate these areas for possible continuation of nickel and cobalt mineralisation.

However, Traka’s exploration licence applications are contested in part by other parties. 

The halt will remain in place until the opening of trade on Tuesday 21st November 2017, or earlier if an announcement is made to the market.

Quick facts: Traka Resources Ltd

Price: 0.011 AUD

ASX:TKL
Market: ASX
Market Cap: $4.41 m
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