Northern Mining (ASX:NMI) received an ASX price query yesterday when its shares hit $0.024 intra-day, which is 85% higher than the $0.013 closing price a day earlier.
Shares in the company kept climbing and by the end of the session were $0.029.
Northern Mining said it was not aware of any information to explain the change in share price.
The company did however state: 'There were some interest shown by the US fund institutes recently following the Proactive Q&A Sessions conducted with the Company’s Chairman.'
ACCESS HERE: Northern Mining's chairman Tony Ong in Proactive Q&A Sessions™
Northern Mining added that the company has recently sold its Georges Reward’s tenement to Metals X (ASX:MLX) for $4.5 million, and it now has $9 million in cash at the bank.
The company also said that it has been actively looking to invest in good mining assets located locally and/or overseas and will provide the details once it is confirmed.