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Triton Minerals' Shares Soar, Prompts ASX Price Query

Jan. 07, 2014 5:11 PM ET
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Triton Minerals' (ASX: TON) shares have been on a tear recently, as the company advances its key Balama North and Ancuabe graphite projects in Mozambique.

Yesterday Triton's shares closed at $0.085, for a 28.8% gain on the day, with the company receiving an ASX speeding ticket in the form of a Price Query. Around 850,000 shares were traded.

Triton said that it is not aware of any information that has not been released that could be an explanation for recent trading, and in its response to the ASX said:

"Other than the associated documents for the recent capital placement from December 2013, the company does not have any information to be released."

Last month Triton raised $1.6 million through a placement, with the company planning to complete by the middle of 2014 resource definition drilling and modelling as well as a Scoping Study at the Balama North project.

This will provide Triton with further confidence in the graphite prospectivity of both the Nicanda Hill and Cobra Plains prospects and continues to increase the overall potential of the Balama North project to host multiple high grade large flake graphite deposits.

The last hole of its initial diamond drilling program intersected 158 metres of graphite-bearing schist, while trenching has exposed near-surface graphite mineralisation.

The project is located north of the world-class high grade graphite deposit held by Syrah Resources (ASX: SYR).

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.

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