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Robust Resources share price spike prompts ASX price query

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Robust Resources (ASX:ROL) has replied to an ASX price query stating that it is not aware of any information that has not been announced which explain the share price spike, as all drilling results have been released to the market.

The company's shares hit an intra-day high of $2.10 today, compared to a $1.52 on Friday 24 September.

Robust did state in the ASX response, that believes that "share price increases may be due to its recent announcements concerning particularly good results being achieved in its drilling programme to date together with the fact that it has entered into an agreement which will result in all its Romang Island mining tenements being fully owned by the company whilst its issued share capital is only 65,108,110 shares and the consequent demand for shares."

"In addition recent significant rises in the gold price may well be having a positive effect on the company share price in view of the announced gold content on its mining tenements."

Robust shares have subsequently eased to $1.98 in intra-day afternoon trading.

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