Perilya mine sign at Broken Hill Photo: Perilya mine sign for Broken Hill southern operations, 2009 (Emma Sleath: ABC)
Map: Broken Hill 2880 The ASX has issued Perilya with a "please explain" as to why the company's shares have spiked sharply in the last seven days.
Share prices in the Perth-based mining company rose from 12 cents last Monday to 19.5 cents yesterday.
Perilya runs two lead, zinc and silver mines in Broken Hill and another in the Dominican Republic.
The surge comes on the eve of Perilya's quarterly statement, causing speculation as to what may be revealed in the report.
But Perilya's CEO Paul Arndt says there's no big deal.
"There has certainly been a trend with the Australian dollar weakening that helps us as it does other Australian exporters, so that our profitability will improve in the long term," he said.
"But other than that it's just a question of the fluctuations that occur if you have someone that is selling a large block or buying a large block."
But independent minerals and commodities analyst Peter Strachan wonders what the long answer might be.
He says unusual spikes on the market can sometimes signify a looming takeover, though Mr Strachan admits that is unlikely in Perilya's case given market uncertainty.
"I wouldn't see at this point in the market that there would be a takeover," Mr Strachan said.
"I could be wrong - I'd like to have a dollar for every time there's been speculation of a takeover and it didn't happen, so I think not.
"I think it's more likely just one of those random warp things we see in the market from time to time."
