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Alkane Resources' Soars

Alkane Resources (ASX: ALK) received a price and volume query from the ASX yesterday after the company's shares hit $0.73 intra-day, a 16% increase from the closing price on Thursday 6th December.

The company responded to the ASX saying that it is not aware of any information that has not been announced, which could explain the sudden investor interest.

Alkane is a multi-commodity exploration and development company focused on the central west of New South Wales, with projects including the world class Dubbo Zirconia project - which is in the final stages of feasibility, and the Tomingley Gold Project.

The company is very well-funded with $92 million in cash at the end of September 2012.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.