Kolar Gold unaware of any reason for share price surge

Kolar Gold said on Tuesday that it did not know of any reason for the surge in its share price.

At 1537 GMT, shares in the AIM-listed gold exploration and production company were up 37% to 1.23p.

Kolar launched a review of its strategic options in December to consider all available opportunities for maximising shareholder value.

“This review is ongoing,” it said on Tuesday. “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.”