tuesday is going to be interesting26 Aug 2013 08:24
Aug 26th 2013
Bullabulling Gold's 70% share jump prompts ASX
price and volume query
Bullabulling Gold (ASX: BAB, LON: BGL) has received an ASX "speeding
ticket" following a 70% jump in its share price to an intra day high of $0.10
today from its close of $0.059 on 23 August 2013 as well as an increase in
trading volume.
The company said it is not aware of any unannounced information that if known
could be an explanation for the recent trading in its securities.
However, it said it was aware of an article in the Weekend Australian
newspaper on 24 August 2013 that identified the company as being potentially
undervalued as gold prices rise.
It had in July unveiled a new mine plan for the Bullabulling project in Western
Australia that cut costs and boosts production compared to the pre-feasibility
study.
Gold production of 2.1 million ounces is now forecast over a mine life of 12
years with average C1 cash costs of US$843 per ounce and total all in costs of
US$930 per ounce.
The mine plan is based on development of four open pits.