Mongolian Resource Corporation share price doubles on investor presentations in Mongolia
Mongolian Resource Corporation (ASX: MUB) has attributed a doubling in the company’s share price over the space of two weeks to two recent investor presentations in Mongolia.
Shares in Mongolian Resource closed at A$0.14 on Wednesday May 23, up from a closing price of A$0.07 on Wednesday May 9.
The jump has earned the company a speeding ticket from the ASX.
Mongolian Resource responded to the ASX to say that it had made two presentations of publically available material over the past two weeks, to an international resources conference and a Mongolian investment audience.
The company also had an information booth at the international conference.
Both presentations and the information booth were well received by investors and attracted potential investor interest.
While Mongolian Resource today announced a $1.8 million share placement to a single sophisticated investor, the company does not believe this was the reason for the price changes.
Details of the placement were finalised late on May 23, and the deal had been publically foreshadowed.
Shares in Mongolian Resource closed at A$0.14 on Wednesday May 23, up from a closing price of A$0.07 on Wednesday May 9.
The jump has earned the company a speeding ticket from the ASX.
Mongolian Resource responded to the ASX to say that it had made two presentations of publically available material over the past two weeks, to an international resources conference and a Mongolian investment audience.
The company also had an information booth at the international conference.
Both presentations and the information booth were well received by investors and attracted potential investor interest.
While Mongolian Resource today announced a $1.8 million share placement to a single sophisticated investor, the company does not believe this was the reason for the price changes.
Details of the placement were finalised late on May 23, and the deal had been publically foreshadowed.
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