October 23, 2013
Aspire Mining (ASX: AKM) shares have jumped 48% to a high of $0.08 on Tuesday, 22 October 2013, from its close of $0.054 on Monday, 14 October 2013, resulting in its receiving an ASX price query.
The company said it was not aware of any reason for the sudden investor interest.
However, it noted that there maybe an improvement in investor sentiment towards Mongolia associated with Turquoise Hill Resources (TSE: TRQ), the owner of the Oyu Tolgoi Copper-Gold Project, announcing on 21 October 2013 that it had started concentrate sales from Mongolia to Chinese customers.
Aspire had in September highlighted potential capital expenditure savings for the Northern Railways Erdenet to Ovoot rail project that is key to commercialising its Ovoot Coking Coal Project in Mongolia.
The report also confirmed the project is viable from an engineering and railway operational aspect.