Ardent Mines Ltd. (PINK:ADNT) stock got surprising spikes in the share price and trading volume at the end of last week. The company has not issued any news that could have caused them, just the opposite. 
On Friday, ADNT closed the market with a 13.33% increase in the price at $0.17. Trading volume was nearly four times the average for the past three months as 288,325 shares were traded for the day. Thus, it looks like after reaching the bottom at the start of the new year ADNT could now recover some of its value.
From the latest SEC filings of the company it is evident that traders had recently good reasons to sell out their shares in the company. The last two 8-k forms say that at the beginning of the month first ADNT Chief Financial Officer resigned from his position, then a few days later a Director of the company left as well.
At the same time, ANDT filed also a prospectus related to the resale of 519,482 shares of its common stock by certain shareholders of the company. These shares can now be offered on the open market but the company will not receive any proceeds.
Ardent Mines financial and operational condition is not very inspiring as well, and corresponds to the low market valuation of the company. As of end-September 2011, the company had no revenue, $815,000 in current assets and nearly twice as much current liabilities.
