Minara at loss to explain 29% price jump

Minara Resources says an increase in the price of nickel may be the reason behind a 29 per cent share price jump today, after it received its second query from the market regulator in less than a fortnight.

Shares in the nickel miner climbed 17.5 cents to a high of 78 cents today with no news released.

Since April 2, Minara's share price has climbed from 45 cents to today's closing price of 57.5 cents in the absence of news.

In a reply to an Australian Securities Exchange query, Minara said it is not aware of any information concerning the company that could have boosted the share price.

However, Minara did mention that the three-month delivery price of nickel on the London Metal Exchange has risen from $US9,575 per tonne on March 30 to $US10,930/t on April 3.

"The company is not aware of any other explanation for the price change in the securities of the Company," Minara said.

The company received a similar query on March 27 when its share price jumped from 31 cents on March 23 to 43 cents on the day of the query.