Welcome to our dedicated page for Solgold news (Ticker: SLGGF), a resource for investors and traders seeking the latest updates and insights on Solgold stock.
SolGold Plc reports developments tied to copper-gold exploration and project advancement in Ecuador. Company news centers on the Cascabel Copper-Gold Project, the Porvenir Project in Zamora Chinchipe province, environmental licensing, technical and economic studies, investment protection arrangements, and project financing structures such as gold stream funding.
Additional SolGold updates cover ordinary-share trading and listing matters, director and PDMR shareholding notices, equity incentives, and cross-border continuous-disclosure status following the company's voluntary delisting from the Toronto Stock Exchange while its ordinary shares continue to trade on the London Stock Exchange.
On July 21, 2021, BlackRock, Inc. reported that it crossed a significant threshold concerning its voting rights in SolGold PLC, now holding less than 5%. The notification follows its reduction from a previous position of 4.92% as of July 20, 2021. BlackRock's holdings are essential to monitor, as this change may indicate shifts in stakeholder confidence or strategic positioning within the company.
SolGold has announced that as of June 30, 2021, it has an issued share capital of 2,293,816,433 ordinary shares with voting rights. The company does not hold any treasury shares. The total number of voting rights now stands at 2,293,816,433, providing shareholders with a figure to assess any changes in their interests. This announcement satisfies the company’s obligations under the Disclosure Guidance and Transparency Rules. The press release was approved by Dennis Wilkins, Company Secretary.
SolGold announced the sale of 300,000 shares by Non-Executive Director Nicholas Mather, representing less than 0.5% of his total holdings. The sale, finalized on June 16 & 17, 2021, was conducted to fulfill philanthropic obligations to support prostate cancer research, mental health initiatives, and emergency services in Australia. Mather emphasized that the sale does not reflect a negative outlook on SolGold's value or growth. The shares were sold at an average price of 30.71p, totaling approximately £92,147.05.
SolGold has issued 1,500,000 new ordinary shares following the exercise of employee share options at 25p each, with admission to the London Stock Exchange expected on June 15, 2021. The total number of issued shares will rise to 2,293,816,432. Alongside these shares, the company has options totaling 106,875,000. SolGold continues to focus on exploring and developing copper and gold resources in Ecuador, holding a significant interest in the Cascabel concession and maintaining strong operations in the region.
SolGold and Cornerstone Capital Resources have announced a cooperative effort to advance the Cascabel Project in northern Ecuador. This partnership aims to explore strategic and financing options to maximize shareholder value. Both companies’ boards are committed to supporting this initiative, which includes the delivery of a new technical report to lower development risks. The project hosts 442 million tonnes of copper-equivalent mineralization, reinforcing their focus on enhancing shareholder value in a complex mining environment.
SolGold has announced the retirement of Mr. Karl Schlobohm from his role as Company Secretary, effective June 30, 2021. Schlobohm has served the company since April 2009. Interim CEO Keith Marshall expressed gratitude for Schlobohm's dedicated service. The company is in the process of appointing a new Company Secretary and Schlobohm will assist during the transition. SolGold focuses on the discovery and development of world-class copper and gold deposits, operating primarily in Ecuador.
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The Board of SolGold has reported significant drilling results from the Tandayama-America (TAM) Porphyry Copper-Gold target at the Cascabel Project in Ecuador. Drilling in holes 1-7 intersected notable copper and gold mineralization, with intervals exceeding 100m% Copper Equivalent (CuEq). Key highlights include hole 3 with 1,040m @ 0.33% CuEq and hole 1 with 531m @ 0.30% CuEq. The mineralization corridor spans 750m long and 500m wide, with further drilling planned to explore depth and lateral extensions. A Maiden Mineral Resource Estimate is anticipated later this year.
On May 20, 2021, SolGold PLC notified that BlackRock, Inc. has crossed the 5% threshold for voting rights in the company. As of May 19, 2021, BlackRock holds 5% of the voting rights, comprising 112,810,671 direct voting rights and an additional 19,070,560 through financial instruments. This marks an increase from their previous holding of below 5%. The update comes as part of regulatory requirements for major shareholders.