White Tiger Gold Ltd. (TSX: T.WTG, Stock Forum), of Road Town, Tortola, British Virgin Islands, said Thursday it is unaware of any material undisclosed development that would account for recent movements in the company’s share price.
The announcement, made at the request of the market surveillance department at the TSX, came after White Tiger Gold shares rose 64% to close at $6.87 Thursday, giving the company a market cap of 787.5 million, based on the 115 million shares outstanding.
Earlier in the session, the stock traded in a range of $8.45 and $4.69.
That’s up from $1.20 when the stock began trading on the TSX on Dec. 31, 2010. The company recently raised $24.8 million from the sale of 24.5 million shares at $1 a share. It also acquired four private Russian companies for 85 million shares.
White Tiger plans to carry on the business of those Russian companies which are exploring for and producing gold in Russia, according to the TSX.
The company’s chief executive officer is Geoffrey Cowley. It’s largest shareholder is Russian Maxim Finskiy, who acquired his 85 million shares when he sold the four Russian companies to White Tiger.