Emmerson Resources Ltd (ASX:ERM) was queried by the ASX today relating to the price of its securities, which went from a low of 7.9 cents at the close of trading last Wednesday to an intra-day high of 10.5 cents today.
The ASX also noted the increase in the volume of Emmerson’s securities traded during the same period.
The company responded to the query explaining that it was not aware of any information that had not been released to market.
Emmerson confirmed that initial results from drilling at the Mauretania project, Tennant Creek were revealed on June 11 2019 and additional assays are still required to be compiled and released later this month.
Furthermore, the company confirmed that it is in the process of selling the Warrego Mill Lease to Territory Resources for construction of a Central Processing Facility at Tennant Creek and is currently working towards commercial closure of this sale which should be finalised this week.