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European Goldfields Climbs 20%, Acknowledges 3rd Party Talks, 'Potential Transactions'

European Goldfields Limited (EGU.TO) is now up more than 20% this afternoon, gaining $2.06 a share to last trade at $12.02 and the company saying it has received "preliminary and indicative approaches" from third parties regarding potential corporate transactions although no formal offers have been received.

European Goldfields' executives responded this morning after the stock jumped nearly 75 cents during the first 15 minutes of the session, rising over 6% from its $10.84 a share opening price before exchange officials forced a trading halt. Shares began trading again at 12.15 p.m. ET at $11.88 a share, up $1.04, and reached $12.23 each before easing into their current range.

The company said it does not intend to make additional statements unless there is a definitive agreement or the talks formally conclude.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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