With its shares trading as high as $0.67 in intra-day trading today, up 86% from the price of $0.36 on Tuesday 7 November, the ASX initiated a price and volume query to Groote Resources (ASX: GOT).
The company said it is not aware of any material information that has not been announced that could explain the sudden investor interest.
Groote did though state it is "aware of a subscription based independent research note on the company published early in December 2010."
On November 30, South Korea's state owned exploration and mining company Korea Resources Corporation (KORES) signed a non-binding agreement with Groote which could see KORES enter a formal commercial arrangement regarding the Groote Eylandt Manganese Project by May 2011.