Segue Resources receives 'ASX please explain' as share price almost doubles
Segue Resources' (ASX: SEG) shares hit $0.042 in intra-day trade today, almost double the $0.022 from a week ago - with the company receiving an ASX price and volume speeding ticket.
Segue responded to the ASX saying that the company is unaware of any material information that has not been released to the market, which may explain the sudden investor interest.
The company though is currently in a very interesting position, and highlighted in the June quarterly the agreement to acquire up to 51% of the Emang Manganese Project.
The project is located in the Postmasburg Manganese Field in South Africa, covering 1,668 hectares within the western limb of the Postmasburg Manganese Field between Sishen and Postmasburg in the Northern Cape Province.
The importance of this strategic location is that the Northern Cape Province contains the bulk of South Africa's economic manganese reserves, and is one of the largest manganese producing regions in the world.
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