Admiralty Resources given ASX "speeding ticket" after shares...

Admiralty Resources given ASX "speeding ticket" after shares jump 24%

Admiralty Resources (ASX: ADY) has received an ASX price query after the company's shares jumped 24% to an intra-day high of $0.056 on Friday 13 May, up from $0.045 on Tuesday 10 May.

The company said it is not aware of any material information that has not been announced to the market that may explain the sudden investor interest.

However, the company did note in its ASX response that Admiralty's half year report for the period ending 31 December 2010, released on 11 March 2011, included a variation of greater than 15% from the corresponding period.

The company sold its subsidiary SCM Vallenar Iron Company leading to the half year report including an abnormal profit as a result of the sale.

Admiralty does not believe there will be any further significant variations from the previous corresponding period.