Elementos Limited (ASX:ELT) has received a price and volume...

Elementos Limited (ASX:ELT) has received a price and volume query from the ASX after its shares soared 67% to $0.01 from a low of $0.006 with an increase in trading volumes.

The stock last traded up 83% on the day at $0.011.

In response, the company said it was not aware of any reason not already released that could explain the recent trading in its securities.

Elementos noted that its shares are illiquid and the share price may move on trades of relatively small value.

The company has a clear pathway to production from the Cleveland Mine Redevelopment in Tasmania starting with tailings reprocessing, a fast and inexpensive way towards cash flow.

It plans to commence construction of the tailings reprocessing facility in 2016, with production to quickly follow.

This will be at a minimum mining rate of 650,000 tonnes of tailings per annum, or 900 tonnes of tin per annum and a mine life of seven years

It will be followed by open pit mining and redevelopment of the Cleveland underground tin, copper and tungsten mine, which could extend mine life beyond 20 years.

The staged development strategy minimises upfront capital and produces cashflow to fund future development.

Elementos expects to complete the Tailings Pre-Feasibility Study as well as the Open Pit and Underground scoping studies this month.