15th Sep 2015 17:05
LONDON (Alliance News) - Kolar Gold Ltd on Tuesday said it has noted media reports about an Indian Ministry of Mines interview in which it is reported that the Ministry intends to auction licences for gold lease areas across the country in the near-term.
"Some media reports specifically refer to the BGML Mine located in the Kolar Gold Fields in the state of Karnataka, India," the company said.
"Kolar continues to pursue its proposed acquisition, jointly with the BGML Mine ex-employee united unions, to revive the historic BGML Gold Mine as previously communicated," the company added.
"To date the company has not received any communication from the Indian Ministry of Mines in relation to the media reports. Kolar will provide updates to shareholders in line with formal statements from the Indian Ministry of Mines as appropriate," the company said.
Shares in Kolar closed up 14% at 1.48 pence on Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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