Shares in Liquefied Natural Gas Limited (LNG Ltd) have hit a record high of US$ 2.77 per share, bringing the total return for the year to 823.33%, rising from a low of 30 cents per share.
The company said it was unaware of any new information to explain the rise in shares as well as the increase in the volume of trading over this period.
LNG Ltd had communicated to the market the continued progress on its 8 million tpa Magnolia LNG Project, which could explain the rocket in share prices.
On 14 July, the company announced that the US Federal Energy Regulatory Commission had accepted Kinder Morgan’s filing applications, setting a timeline for regulatory approvals.
It also noted that the company had held investor road shows in Melbourne, Sydney and Brisbane, as well as releasing a Corporate Investor Presentation on 14 July.
Edited from various sources by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/22072014/lng-limited-shares-skyrocket-1036/