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 (OTC: SLGGF) generates frequent news flow related to its copper and gold exploration and development activities, corporate funding, and governance. The company’s releases emphasise its focus on the Cascabel copper-gold project, the Porvenir Project and associated exploration targets, as well as the legal, fiscal and community frameworks that support these assets.
Investors following SolGold news can expect regular updates on technical studies and project milestones. The company has reported a staged development plan and Pre-Feasibility Study for Cascabel, the appointment of G-Mining Services as project manager for the Feasibility Study, and work on options to bring forward production through open-pit and sub-level caving concepts around Cascabel, including a targeted drilling program at the Tandayama deposit.
SolGold also issues detailed announcements on permitting and regulatory progress. Recent news includes the execution of an Amended Investment Protection Agreement with the Government of Ecuador for Cascabel, aimed at providing long-term legal and fiscal certainty, and the grant of an Environmental Licence for the advanced exploration phase at the Porvenir Project after an Environmental Impact Study and public consultation. These items are central for readers tracking the regulatory status of the company’s projects.
Another recurring theme in SolGold’s news is financing and strategic investment. The company has disclosed a gold stream funding agreement with Franco-Nevada and Osisko Royalties, and a share sale by its subsidiary SolGold Canada Inc. to Jiangxi Copper (Hong Kong) Investment Company Limited at a premium to market price, which SolGold states will strengthen its balance sheet and support project advancement. Corporate updates also cover governance changes, such as board appointments and the designation of a Senior Independent Director, as well as director share dealings and executive option grants.
For investors and observers, the SLGGF news feed on Stock Titan offers a consolidated view of these developments, from exploration and economic assessments to funding structures and governance initiatives. Regularly reviewing this page helps readers track how SolGold’s technical, regulatory and financial decisions evolve over time.
SolGold has appointed Chris Stackhouse as Chief Financial Officer, effective April 17, 2023. Stackhouse has over 20 years of finance experience, notably with Guyana Goldfields where he was involved in developing and financing the Aurora Gold Mine. Scott Caldwell, previously interim CEO, has been confirmed as CEO and President of SolGold Ecuador, emphasizing the company’s focus on sustainable growth in Ecuador. To secure Caldwell’s position, an award of 30 million options at £0.17 per share was granted, contingent on performance criteria. The board plans to seek shareholder approval for amendments to the Remuneration Policy to ensure alignment with shareholder interests.
SolGold has announced that its prospectus has been approved by the Financial Conduct Authority and published on February 22, 2023. This prospectus pertains to the admission of 525,954,360 shares to the Official List and trading on the London Stock Exchange as part of a plan to acquire shares of Cornerstone Capital Resources. The shares are set to commence trading on February 27, 2023, and no funds are being raised in connection to this admission. Upon admission, the total issued share capital will be 3,002,005,861 shares.
SolGold has released its interim financial results for the half year ending December 31, 2022. Key highlights include the company's continued focus on discovering and developing major copper and gold deposits in the Andean Copper Belt, which contributes to around 40% of global copper production. SolGold is committed to transparency, sustainable practices, and delivering value to shareholders. The full interim financial report and management discussion are accessible via the company's website and the provided links.
SolGold has updated on its acquisition of Cornerstone Capital Resources, confirming approval from Cornerstone's shareholders and the Court of King's Bench of Alberta. The Acquisition will be executed through a court-approved plan of arrangement, with SolGold set to issue shares instead of cash. Cornerstone shareholders will receive 15 SolGold shares for each share they own. The company plans to release the prospectus shortly, aiming for a swift completion of the acquisition.
SolGold has disclosed its total issued share capital, totaling 2,476,051,501 ordinary shares with voting rights. The company currently holds no shares in treasury, allowing this figure to serve as the denominator for shareholders determining their interest notifications. Operating in the Andean Copper Belt, SolGold focuses on world-class copper and gold deposits while adhering to international best practices. The company is committed to delivering value to shareholders while minimizing environmental impacts and fostering community benefits.
SolGold announced that all resolutions at the 2022 Annual General Meeting were approved, with significant majority votes. Key resolutions include:
- Directors' Remuneration: 90.07% in favor
- Electing Directors: Range from 57.55% to 95.07% in favor
- Re-appointing auditors: 99.78% in favor
- Authority to Allot Shares: 68.81% in favor
However, certain resolutions received over 20% votes against. The company noted that excluding significant shareholders may have influenced outcomes.
SolGold announced on December 12, 2022, the acquisition of 1,000,000 ordinary shares at a price of US$0.20 per share by directors Scott Caldwell and James Clare as part of a capital raise. This transaction, valued at US$200,000, is designated as an initial notification concerning managerial responsibilities. The acquisitions took place outside a trading venue. SolGold is committed to transparency and continues its focus on developing world-class copper and gold deposits.
SolGold announces a successful placement of 180 million new ordinary shares at a price of US$0.20 per share, raising a total of US$36 million. Major investor Jiangxi Copper subscribed for 155 million shares, marking a strategic endorsement of SolGold's Cascabel project in Ecuador. Following the issuance, Jiangxi will hold approximately 6.3% of the company, which will now have 2,476,051,501 ordinary shares in total. Admission to the London and Toronto Stock Exchanges is expected on December 13, 2022.
SolGold (LSE:SOLG)(TSX:SOLG) announced the requirement to refile its financial statements for FY2022 and Q1 FY2023 as part of regulatory materials for its merger with Cornerstone. The annual financial statements for June 30, 2022, will include amended auditor’s opinions and restatement of previous financials. The Q1 FY2023 financials will see minor amendments including the update on the Going Concern assessment and correction of the number of ordinary shares from 2,295,751,871 to 2,295,152,615. The amended documents are available on SEDAR.
SolGold PLC disclosed a change in voting rights held by Norges Bank, who acquired shares resulting in a total of 82,875,000 voting rights, equating to a 3.61% interest. On December 5, 2022, the voting rights threshold was crossed, with the notification made on December 6, 2022. The previous voting rights held were 3.07% of shares. The acquisition reflects Norges Bank's ongoing strategic investment approach in SolGold.