8th Mar 2016 11:52
LONDON (Alliance News) - Kolar Gold Ltd Tuesday said it knows of no reason for the sudden surge in its share price, and said it is continuing to progress its strategic review of the business.
Kolar Gold shares were trading up 56% to 1.40 pence per share on Tuesday, hitting a high of 1.790 pence earlier in the day.
"Kolar Gold notes the company's share price during today's trading. The directors confirm that they know of no reason for the share price movement," said Kolar.
"The company is assessing a number of potential options and will report to shareholders as soon as the process is complete. In the meanwhile, the company remains in an offer period under the takeover code," the company added.
Kolar Gold launched a strategic review of the business back in early December, and reiterated Tuesday it is considering all available opportunities for maximising value for shareholders.
By Joshua Warner; [email protected]; @JoshAlliance
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