up 700 percent in four days

FROM MINING NEWS.

Haoma shares hurtle through the roof

Lorna Seatter
Thursday, January 03, 2008

HAOMA Mining shares have sky-rocketed a colossal 700% over the last four days of trade surging to an intraday pinnacle of 40c today.



The company opened on Friday December 28 at 5c, escalated 56% by Monday's market close, and soared a massive 248% today, rocketing from 11.5c to crest at 40c, before cooling to 21c at today's close of trade.

When queried by the Australian Securities Exchange about today's share anomaly, Haoma responded saying the hike was a delayed response to Friday's ASX announcement regarding results from its sampling program at the North Pole project in Western Australia's Pilbara.

The November reconnaissance program at North Pole produced maximum rock chip values of 46.1% manganese, 54.8% iron and 1,150 parts per million vanadium, with assays identifying a zone of manganese and iron mineralisation, Haoma said in Friday's ASX release.

The North Pole project includes 10 mining leases over 276 square kilometres of tenure and the company has planned further reconnaissance exploration for the region.

Although Haoma's share surge today was colossal, the company reached an all-time high of 90c in March 1996 and almost plunged to a 1c low in 2003 – the same year its mining operations ceased at the Nolans gold mine in North Queensland.