China Africa Resources unsure why share price rising

China Africa Resources, a mining company, has said that it is not aware of any reason behind the recent rise in its share price.

The firm said it continues to pursue its strategy to carry out a feasibility study over the Berg Aukas Project.

So far it has appointed most of the consultants that will be working on the feasibility study and received designs for a drilling program from consultant Geologists which will be performed to establish JORC resources. A 'request for tender' for the drilling work was distributed in December, and drilling is expected to begin in February.

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As at 31 December 2011 the company had a cash balance of £3.8m.

The share price, which has risen 78.79% in the past month, was up 3.51% on Wednesday at 29.5p.

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