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 (SLGGF) is a leading copper-gold exploration company advancing its flagship Cascabel Project in Ecuador through systematic resource definition and strategic partnerships. This page provides official updates on exploration progress, financial developments, and operational milestones critical to understanding the company's position in the mining sector.
Investors and analysts will find comprehensive coverage of material events including drilling results, geotechnical studies, and regulatory advancements. The resource consolidates key announcements ranging from project feasibility assessments to strategic financing agreements, offering stakeholders timely insights into SolGold's exploration strategy and resource development timeline.
All content undergoes rigorous verification to ensure alignment with corporate disclosures and industry reporting standards. Bookmark this page for direct access to SolGold's latest press releases and third-party analysis of its Ecuadorian operations and global exploration portfolio.
SolGold will hold its Annual General Meeting (AGM) on December 22, 2022, in Brisbane, Australia. The Board of Directors recommends shareholders vote FOR all resolutions. Historically, voter turnout has been under 75%, emphasizing the importance of retail shareholder participation. The meeting materials are available on SEDAR and the SolGold website. Changes in the board include non-re-elections of directors Elodie Grant Goodey and Kevin O'Kane, with new appointments to key committees.
SolGold announces its agreement with Jiangxi Copper (Hong Kong) Investment Company Limited to purchase 180 million shares at US$0.20 per share, totaling US$36 million in gross proceeds. Jiangxi Copper will acquire 155 million shares, giving them a 6.3% ownership stake in SolGold post-transaction. The closing is expected on or about December 9, 2022, pending due diligence completion. This investment aims to support ongoing operations and reinforce shareholder value.
SolGold has appointed Mr. Scott Caldwell as the Interim CEO, effective November 10, 2022, bringing over 40 years of mining experience. Caldwell aims to enhance shareholder value by focusing on cost-effective resource allocation and prioritizing the Cascabel project in Ecuador. A US$50 million royalty investment from Osisko signals strategic endorsement. The anticipated merger with Cornerstone is moving forward. A strategic review is underway to explore value-enhancing opportunities, including financing alternatives and potential asset spin-offs.
SolGold has released its Q1 2023 Financial Statements and Management Discussion and Analysis for the quarter ended September 30, 2022. The documents are available on the Company's website. SolGold continues to focus on the discovery and development of significant copper and gold deposits along the Andean Copper Belt, which contributes about 40% of global mined copper production. The Company operates with transparency and aims to deliver shareholder value while benefiting local communities and minimizing environmental impacts.
SolGold announces a significant management change as Darryl Cuzzubbo, the CEO, departs effective November 10, 2022. Scott Caldwell, previously a Non-Executive Director, has been appointed as Interim CEO. Caldwell brings over 40 years of mining experience, including leadership roles at several mining firms. The company is initiating a search for a permanent CEO. During Cuzzubbo's tenure, SolGold successfully delivered the Cascabel Pre-Feasibility Study, highlighting its project's Tier 1 potential. The transition aims to maintain support for shareholders during this period.
SolGold announced a US$50 million royalty financing agreement with Osisko Gold Royalties regarding its Cascabel copper-gold project in Ecuador. Osisko will receive a 0.6% NSR interest, with SolGold retaining a buy-back option for one-third of that interest for four years. The deal alleviates financial pressures on SolGold, allowing it to focus on maximizing shareholder value through its ongoing Strategic Review Process. The agreement highlights SolGold's intent to navigate the current economic climate effectively.
SolGold has published its Annual Report for the year ending June 30, 2022, submitted to the Financial Conduct Authority as per compliance requirements. This report can be inspected at the National Storage Mechanism and on SolGold's official website. The company focuses on the exploration of copper and gold deposits in Ecuador, notably the Alpala deposit within the Cascabel concession. With a workforce primarily made up of Ecuadorians, SolGold aims to operate sustainably while delivering shareholder value.
SolGold has appointed Scott Caldwell and Dan Vujcic as Independent Non-Executive Directors, effective 24 October 2022, following a merger agreement with Cornerstone Capital Resources. Caldwell, a mining engineer with over 40 years of experience, has previously served as CEO at various mining companies. Vujcic, currently the Chief Development Officer at Metals Acquisition Corp, has extensive experience in global capital markets. These appointments aim to enhance the board's expertise in executive leadership and corporate strategy.
SolGold will host a live presentation today, October 12, 2022, at 1:00 PM London time, featuring CEO Darryl Cuzzubbo and Interim CFO Keith Pollocks. Investors can register to attend this presentation through a link provided in the announcement. Additionally, presentation materials will be available on the company’s official website. This event is an opportunity for shareholders and potential investors to gain insights directly from the company's leadership.
On October 7, 2022, SolGold PLC reported that BlackRock has reduced its voting rights in the company to below 5%, crossing this threshold on October 6. Previously, BlackRock held 5.31% of voting rights, which included 4.87% in shares and 0.44% in financial instruments. This change reflects a significant alteration in BlackRock's stake, possibly indicating a shift in investment strategy or market outlook.
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