Kolar Gold Ltd. on Feb. 2 said it is proposing to change its name to Lionsgold Ltd. to better reflect the company's more diversified interests.

The company also reserved the ticker LION in anticipation of the name change, which will be proposed to shareholders during the company's extraordinary general meeting Feb. 23.

Recently, Kolar Gold has been focusing its Indian efforts on its strategic ownership and relationship with Geomysore Mining Services India Pvt. Ltd. and its joint venture with TRAC Technology Ltd. to develop a gold holding and trading platform for the Indian market.

The company also diversified its portfolio through its stake in the recently incorporated Finnish firm Kalevala Gold Oy.