By Ian Walker

Shares of Shanta Gold Ltd. rose 21% on Tuesday after the company said it has received takeover approaches from Shandong Gold Group Co., Yintai Gold Co. and Chaarat Gold Holdings Ltd., and that it is in talks with each of the parties.

The AIM-listed mining company didn't disclose terms of the potential takeovers or any pricing being discussed. However, it cautioned that there is no certainty any deal will be struck and advised shareholders to take no action at this time.

Each of the companies have until Nov. 15 to either make an offer or walk away under U.K. Takeover Panel rules.

Shares at 1032 GMT were up 1.90 pence at 10.90 pence.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

October 18, 2022 06:54 ET (10:54 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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