One of the biggest movers on the market today has been the Alderan Resources Ltd (ASX: AL8) share price.
At one stage on Wednesday the metal exploration company's shares were up as much as 24% to an all-time high of $2.40.
While its shares have given back some of these gains, in late trade they are 13.5% higher at $2.19.
Why did its shares hit an all-time high?
While there was no news out of the company today, investors have been fighting to get hold of Alderan Resources' shares this year due to the world-class potential of its Frisco site in Utah, United States.
The company recently announced the preliminary results of its induced polarisation survey at the site.
According to the release, the survey appears to have uncovered an extremely large, preserved, and mineralised porphyry copper system at its Cactus Canyon prospect.
Alderan Resources' shares have now gained over 71% since one Motley Fool contributor tipped it as a promising small-cap resources share to watch.
