Perth-based explorer, Batavia Mining (ASX: BTV) has replied to a stock exchange query as to increase in price and volume, that it knew of no reason for the increase that had not been already announced.
The company noted the increasing investor interest in the company resulting from an option it holds over a Roper River Iron Ore project in the Northern Territory, which expires on 29 July 2010.
Batavia has commenced a due diligence and exploration program aiming to convert an exploration target of 400-500 million tonnes grading +40% Fe, including an exploration target of 80-150 million tonnes of Direct Shipping Ore (DSO) grading 50-60% Fe, to JORC compliant resources by Q3 2010.
Notably, Batavia's 3,500 sq km tenement license area is adjacent to Western Desert Resources (ASX:WDR) and Itochu's joint venture new iron ore project area and discovery.
At least 26 targets were previously explored by BHP Billiton (ASX:BHP).
Batavia has a major drill and evaluation program commencing in 2010.
Disclosure: The author holds no positions in the company