Kolar Gold unaware of any reason for share price surge

(ShareCast News) - 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."