Murchison Metals Ltd says it is not aware of any information that would explain the recent price rise in its securities.
In a letter responding to a query by the Australian Securities Exchange (ASX), the company said it was not aware of information not already announced that caused its share price to increase from $2.45 on December 30 to a high of $2.78 on Monday.
However, it said that Crosslands Resources Ltd had announced a significant increase in the size of the Mineral Resource at the Jack Hill iron project on December 22, 2009.
Murchison has a 50 per cent interest in Crosslands.
The company also noted that there had been general market commentary regarding a favourable outlook for demand for iron ore and expectations on iron ore pricing in 2010.
Murchinson closed 26 cents or 10.4 per cent higher on Monday at $2.76.
MMX Price at posting:
$2.76 Sentiment: Hold Disclosure: Held
