A day after being the biggest loser on the ASX, Murchison Metals was the biggest gainer, soaring 22.7% today, prompting the ASX to issue the company with a speeding ticket.
Volume was at record levels with more than 12 million shares changing hands.
In response the ASX query, Murchison issued a statement saying that it was "not aware of any information concerning it that has not been announced which, if known, could be an explanation for recent trading in the securities of the Company."
However Company Secretary Chris Foley did reference a Dow Jones report from yesterday concerning QR National investing in the OPR project if the existing partners can't follow through.
"Murchison confirms that it is not currently in discussions with QR in relation to the divestment of Murchison?s direct (or indirect) stake in the OPR project," writes Foley. "Murchison has previously announced that it is evaluating a wide range of potential funding options with respect to its funding obligations for OPR and Crosslands Resources? Jack Hills Expansion Project, and that divestment of all or some of the Company?s direct stake in OPR is one of the several potential options open to Murchison."
"As previously announced Murchison expects to receive feasibility studies for the OPR and JHEP projects from Crosslands and OPR by the end of the June quarter."
MMX Price at posting:
81.0¢ Sentiment: Buy Disclosure: Held
