General Mining Corporation tells ASX potash may be behind 33% share spike
General Mining Corporation (ASX: GMM) received a price and volume speeding ticket yesterday after the company's shares spiked 33% to an intra-day high of $0.18, from $0.135 on Wednesday 2 March.
The company said there is no material information that has not been released to the market which may explain the sudden investor interest.
But what is driving the share price is the potash drilling General Mining is undertaking in Mongolia, with potash the new 'rare earths' with companies involved in this hard to find resource currently getting a massive market re-pricing.
General Mining has a potash project in Mongolia, which comprises five granted exploration licences covering more than 2000 square kilometres within the Uvs Nuur Basin, prospective for bedded and domal potash deposits, as well as for lithium and potassium brines.
Even with Mongolia being a relatively undeveloped country in terms of infrastructure, the country borders the resource hungry China.
To provide an insight into the re-rating of potash companies recently, Fortis Mining (ASX: FMJ) this week hit $3.98, compared to just $0.21 three months ago, with South Boulder Mines last week trading to $6.25, up from $0.26 just one year ago.
The company said there is no material information that has not been released to the market which may explain the sudden investor interest.
But what is driving the share price is the potash drilling General Mining is undertaking in Mongolia, with potash the new 'rare earths' with companies involved in this hard to find resource currently getting a massive market re-pricing.
General Mining has a potash project in Mongolia, which comprises five granted exploration licences covering more than 2000 square kilometres within the Uvs Nuur Basin, prospective for bedded and domal potash deposits, as well as for lithium and potassium brines.
Even with Mongolia being a relatively undeveloped country in terms of infrastructure, the country borders the resource hungry China.
To provide an insight into the re-rating of potash companies recently, Fortis Mining (ASX: FMJ) this week hit $3.98, compared to just $0.21 three months ago, with South Boulder Mines last week trading to $6.25, up from $0.26 just one year ago.
Comments
Post a Comment