There are few certanties in the current market. But the prospect of Horseshoe Metals (HOR) being slapped with an ASX query tag must be one of the better bets around.
Horseshoe shares have soared from 1.3c yesterday to 2.8c this morning - up another 33% on the day - but there has been no announcement from the company since it lodged its quarterly report on January 30.
That report said assays would be available in 2-3 weeks from diamond drilling which tested a geophysical anomaly at its Horseshoe Lights copper-gold project near Meekatharra in WA.
It also noted that new copper targets had been identified for drilling this year.
Horseshoe's board sports mining entrepreneur Michael Fotios, who is also on the board of General Mining Corporation (GMM), another dormant tiddler which burst to life this week.
However, in the case of General Mining, the reason for the rocketing price is clear, with the company revealing earlier this week that it had acquired the right to operate the Mt Cattlin tantalum project in WA from Galaxy Resources.
General also has the right to buy the mothballed project for $30 million over the next three years. General said it planned to start tantalum production at Mt Cattlin within six months.
The deal marks a return to tantalum for Fotios, who ran Galaxy last decade. General said Fotios had "a loan agreement in place" to fund its operations.
General shares soared from 0.3c to a high of 13c this week. But the stock, which closed yesterday at 6.9c, was placed in a halt this morning while the company undertakes a capital raising.
Oh well, it was fun while it lasted.
Horseshoe shares have soared from 1.3c yesterday to 2.8c this morning - up another 33% on the day - but there has been no announcement from the company since it lodged its quarterly report on January 30.
That report said assays would be available in 2-3 weeks from diamond drilling which tested a geophysical anomaly at its Horseshoe Lights copper-gold project near Meekatharra in WA.
It also noted that new copper targets had been identified for drilling this year.
Horseshoe's board sports mining entrepreneur Michael Fotios, who is also on the board of General Mining Corporation (GMM), another dormant tiddler which burst to life this week.
However, in the case of General Mining, the reason for the rocketing price is clear, with the company revealing earlier this week that it had acquired the right to operate the Mt Cattlin tantalum project in WA from Galaxy Resources.
General also has the right to buy the mothballed project for $30 million over the next three years. General said it planned to start tantalum production at Mt Cattlin within six months.
The deal marks a return to tantalum for Fotios, who ran Galaxy last decade. General said Fotios had "a loan agreement in place" to fund its operations.
General shares soared from 0.3c to a high of 13c this week. But the stock, which closed yesterday at 6.9c, was placed in a halt this morning while the company undertakes a capital raising.
Oh well, it was fun while it lasted.