Friday, September 24, 2010

Kasbah Resources (KAS), no news, no speeding ticket...

Today Kasbah Resources (KAS) shares have raced away 60% ($0.085) to $0.225 on volume of 9.2 million.  The company has not issued an announcement nor has the ASX issued a price query to the company.  So why the surge? Tin prices have been strong recently and the Eureka Report covered the stock a bit over a week ago.  But the main reason?  Apparently the company was also covered by the Diggers & Drillers monthly publication overnight with a strong recommendation.  The copyrighted publication was posted on stock chat forum 'Hotcopper' by a member only for the moderators to pull it down.

Hartleys also issued a research report on the company with a speculative buy recommendation.

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