Admiralty Resources 47% share spike prompts ASX 'please explain'
Tuesday, May 24, 2011 by John Phillips
Admiralty Resources (ASX: ADY) was the recipient of an ASX price query after a 47% share spike to $0.084 yesterday (Monday 23 May), from $0.057 on Tuesday 17 May.
Admiralty replied to the ASX that the company is not aware of any information that has not been announced which could explain the recent trading.
The company did however note in the reply:
'The company's half year report for the period ended 31 December 2010 released on 11 March 2011 included an abnormal profit as a result of the sale of the company's former subsidiary, SCM Vallenar Iron Company.'
Speeding tickets aren't new to Admiralty, receiving one early last week as investors pushed the share price to $0.056 in intra-day trade, a 24% increase from the previous trading day.
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