Share price spike could be due to gold venture, says Borneo Aqua Harvest
PETALING JAYA: Borneo Aqua Harvest Bhd said the near completion of its gold mining processing plant could be the reason behind the recent sharp rise in its share price.
In response to an unusual market activity query by Bursa Malaysia, the company noted that its gold producing operation is expected to begin by the second quarter of this year, which was mentioned in its last quarterly report as at Dec 31, 2017.
The share price of Borneo Aqua Harvest, which has risen more than 20% since early this month, closed down two sen to RM1.20 yesterday, with some 7.98 million shares changing hands.
Borneo Aqua is involved in aquaculture. It saw a widened net loss of RM8.24 million for nine months ended Dec 31, 2017 against RM982,000 in the same period a year ago.