GreenX Metals Ltd (LSE:GRX, ASX:GRX), which is progressing an arctic copper project in Greenland, saw its share price spike 25% higher on Tuesday alongside a statement acknowledging a ‘price query’ from the Australian Securities Exchange.
It said, in a brief statement, that it “is not aware of any information that has not been announced which, if known, could be an explanation for recent trading in the securities of the company”, though at the same time, said that it notes “recent media reports published in Poland relating to the company’s international arbitration claims against the Republic of Poland.”
GreenX added: “In November 2022, the company announced that the hearing for the claim had been concluded and that it now awaits a decision from the tribunal, with no specified date available for the decision.
“As previously advised, the arbitration and hearing proceedings in relation to the Claim are required to be kept confidential.”
The company previously noted that it had claimed damages of up to £737mln for lost profits and damages related to the Jan Karskiand Debiensko projects.
In London, the dual-listed shares were up 9.3p or 25.8% to change hands at 45.3p each. The share is now up some 40% over recent trading sessions.