Key Developments: SolGold plc (SOLG.L)

SOLG.L on London Stock Exchange

24 Oct 2014
Price Change (% chg)

-0.12p (-2.33%)
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Latest Key Developments (Source: Significant Developments)

SolGold PLC closes equity financing
Monday, 24 Mar 2014 03:06am EDT 

SolGold PLC:Closes equity financing with range of investors amounting to issue of 45,103,334 shares at price of 9 pence.This equity financing was carried out by company's UK broker SP Angel, and was oversubscribed.Placement was carried out to existing shareholders, but very pleasingly saw introduction of institutional funds to share register.Shares are expected to be admitted to trading on March 31.  Full Article

SolGold plc Raises GBP3 Million Via Share Placing-DJ
Wednesday, 18 Sep 2013 05:50am EDT 

Dow Jones reported that SolGold plc said that it has entered into additional agreements for a placing of 40 million new ordinary shares at GBP0.075 per share for gross proceeds of GBP3.0 million with U.K. institutional and other investors. Additional fund raising will be used for extension of the current Phase 1 drilling program at Cascabel, into a Phase 2 drilling program.  Full Article

SolGold plc Completes Placement To Fund On-Going Phase 1 Drilling Program At Cascabel Project
Monday, 16 Sep 2013 02:05am EDT 

SolGold plc announced the completion of a capital raising to continue the funding of the Company's prospective Cascabel copper-gold project in Ecuador. The placement comprises the issue of 9,840,967 shares at a price of 7.5 pence each to raise gross proceeds of AUD1.27 million from Australian private investors. Funds from the placement will go towards the Phase 1 drilling program including the on- site costs and the associated technical and laboratory work, as well as for general corporate and working capital purposes. The shares are scheduled to be allotted on September 20, and an application to have the shares admitted onto AIM by September 23, 2013 will be made shortly.  Full Article

SolGold plc Gets Environmental License For Cascabel Project In Ecuador-DJ
Tuesday, 27 Aug 2013 02:31am EDT 

Dow Jones reported that SolGold plc said it has received the environmental license from Ecuadorian Ministry of Environment for commencement of drilling at Cascabel Project in northern Ecuador. Drilling expected at Cascabel in early September. Construction of Drill Pad 1 and mobilisation of drill rig commenced on August 24. Currently holds a 30% interest, and can earn up to 85% interest, in Exploraciones Novomining S.A. (ENSA), an Ecuadorean registered company, which holds 100% of the Cascabel concession in northern Ecuador. Cornerstone Capital Resources Inc. currently holds the other 70% of ENSA.  Full Article

SolGold plc Renews Solomon Islands Kuma Prospecting License; Enters Into Agreement To Acquire Guadalcanal Exploration Pty Ltd-DJ
Thursday, 18 Jul 2013 03:05am EDT 

Dow Jones reported that SolGold plc announced a renewal of the Kuma prospecting license in the Solomon Islands with a 12 month exploration program in preparation by the SolGold technical team. Silica-Clay lithocap main focus at Kuma. The Kuma lithocap has been mapped over 2.1 square kilometres and is located over a series of deep magnetic anomalies that the Company considers are of considerable exploration interest. The work program will be based around 3D inversion modelling of magnetic data, detailed alteration mapping using spectral techniques, follow-up stream sediment sampling and selected ridge-and-spur soil sampling. SolGold is actively in discussions with third parties interested in a joint venture on the Fauro tenement. As advised to the market in its various stages of development, the Guadalcanal joint venture between SolGold and Newmont has been terminated by mutual consent. A termination agreement has now been executed by both parties, formally bringing the relationship to an end. SolGold has entered into an agreement to acquire Guadalcanal Exploration Pty Ltd (GEx), a private company registered in Queensland, Australia. GEx holds two prospecting licenses on the island of Guadalcanal in the Solomon Islands, covering a total area of 56 square kilometers.  Full Article

SolGold Plc Announces Completion of Capital Raising
Tuesday, 11 Jun 2013 02:10am EDT 

SolGold Plc announced that it has raised the balance of AUD400,000 at 3 pence per share from private investors as a second part to the AUD2.6million raising announced in April 2013, bringing the total to the AUD3million originally targeted by the Company.  Full Article

SolGold plc Appoints Mr. Alan Martin as New Chief Executive Officer
Friday, 10 May 2013 02:15am EDT 

SolGold plc announced the appointment of Mr. Alan Martin as Chief Executive Officer of SolGold plc and its subsidiaries, with immediate effect. Mr. Nicholas Mather will continue to remain as an Executive Director of the Company to assist Mr. Martin during a transitional phase over the next 12 to 24 months. Mr. Martin brings to SolGold plc more than 20 years of technical, commercial and financial investment experience in the Australian resources industry.  Full Article

SolGold plc Announces Board Change
Thursday, 28 Feb 2013 02:00am EST 

SolGold plc announced that Mr Cameron Wenck has resigned from his position as Non-Executive Chairman of the Company, effective immediately.  Full Article

SolGold plc Enters Into Agreement With Cornerstone Capital Resources Inc
Tuesday, 19 Feb 2013 02:00am EST 

SolGold plc announced that agreement has been reached with Cornerstone Capital Resources Inc in respect of re-negotiated terms to acquire a majority interest in the promising Cascabel copper gold porphyry project in Northern Ecuador. The re-negotiation provides for SolGold to be immediately registered as a shareholder in ENSA, the Cornerstone subsidiary that holds the exploration licence at Cascabel, provides upside from La Encrucijada as well, and affords SolGold the right to 85% of the project (up from 65%) for a reduced expenditure of CAD2.5 Million on the project (down from CAD7.8 Million). Under the new agreement: SolGold will immediately subscribe for Cornerstone shares at the higher of 5 cents a share or the 7 day Volume Weighted Average Price (VWAP) for a subscription amount of CAD200,000 and be issued a 20% direct interest in ENSA, an Ecuadorian subsidiary of Cornerstone holding the Cascabel and La Encrucijada projects. By March 24, 2013 SolGold may acquire a further 10% interest giving it a direct 30% interest in ENSA by subscribing for a further CAD250,000 to Cornerstone shares at the higher of 5 cents a share or the 7 day VWAP. SolGold may increase its interest in ENSA to 85% by: Completing a 2,500metre drilling program capped at CAD2.5Million including expenditure to date by SolGold; SolGold subscribing CAD250,000 at the higher of 5 cents or 7 day VWAP to shares in Cornerstone; SolGold issuing Cornerstone with C$500,000 in SolGold shares priced at the 7 day VWAP.  Full Article

SolGold plc Announces Resignation of CEO and Managing Director
Thursday, 7 Feb 2013 02:00am EST 

SolGold plc announced that its Chief Executive Officer and Managing Director, Mr. Malcolm Norris, has resigned from his post. The Company also announced that Mr. Nicholas Mather will continue as the Executive Director of the Company during a transitionary period until a new CEO is appointed.  Full Article

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