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Horseshoe Metals' 29% Share Spike Attracts ASX Speeding Ticket

Horseshoe Metals (ASX: HOR) received a price and volume 'speeding ticket' from the ASX yesterday after the company's shares hit $0.22, a 29% gain from Monday 25th February 2013.

The company said it is not aware of any material information that has not been released to the market, which may explain the sudden investor interest.

Horseshoe Metals did however state back to the ASX:

'The company has previously announced in its December 2012 quarterly report that a maiden JORC compliant Mineral Resource estimation for the Rinaldi Prospect at its Kumarina Project is expected to be available in February 2013.

'Whilst work on this Mineral Resource estimation is well advanced, the company is not yet in a position to release an announcement to the market.

'The company expects to be in a position to release the finalised estimation within the next week.'

Some drilling highlights from the Rinaldi Prospect in late 2012 included; 7 metres at 3.3% copper from 18 metres, including 1 metre at 11.6% copper.

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