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 ORD (SLGGF) is a leading resources company dedicated to the discovery, definition, and development of world-class copper and gold deposits. The company focuses on the efficient delivery of shareholder objectives, along with value creation and economic benefits for impacted communities. SolGold is committed to operating transparently and in line with international best practices while ensuring shareholder value and promoting social and environmental responsibility.
Recently, SolGold made significant progress with the signing of the Complementary Investment Protection Agreement for the Cascabel Project in Ecuador, representing the largest mining investment in the country's history. The agreement includes a commitment to invest $3.2 billion over subsequent years, highlighting the Company's dedication to the project and its partnership with the Ecuadorian government.
The signing of the Exploitation Contract for the Cascabel Project further solidifies SolGold's position, setting legal and financial terms for the project's development. This milestone underscores the company's commitment to sustainable growth, shared prosperity, and responsible mining in Ecuador. SolGold's extensive exploration efforts have led to the discovery of one of the world's largest copper-gold porphyry deposits, showcasing the project's potential to boost the Ecuadorian economy and drive regional development.
SolGold addresses shareholder concerns regarding the pre-feasibility study (PFS) for its Cascabel copper-gold project and board structure. The company is actively engaging with stakeholders to enhance corporate governance, having added four independent directors and an independent chairman. The PFS is underway, with a board briefing anticipated this month. The firm acknowledges the need for further expertise in underground mining as it transitions from exploration to development.
SolGold has released its Full Year Results for the year ended June 30, 2021, reporting a loss of US$22.89 million, compared to US$14.12 million in the previous year. The company reported total assets of US$456.91 million, up from US$306.80 million in 2020. Operating loss decreased to US$12.87 million, highlighting reduced exploration and administrative costs. Total comprehensive loss was US$21.07 million. For more details, the annual report is accessible on their website and filed on SEDAR.
SolGold has released significant drilling results from its Tandayama-América (TAM) copper-gold deposit, located near the Alpala deposit in Ecuador. Drill hole 13 recorded exceptional results of 1,010m at 0.55% CuEq, with notable intervals including 132m at 1.09% CuEq. The geological findings indicate potential for deep extensions suitable for underground mining. Ongoing drilling continues to reveal promising mineralization, with an NI 43-101 compliant Maiden Mineral Resource Estimate targeted for release in late 2021.
SolGold announces significant progress at its Rio Amarillo project in Ecuador, with drilling now underway at the Varela porphyry copper-gold-molybdenum target. Drill hole RDH-21-001 has reached 90m with a planned depth of 1,500m. Surface rock-saw channel samples returned notable results, including 99m at 0.34% CuEq. The project, located 30km southeast of the Alpala deposit, exhibits a promising geological structure, with strong similarities to Alpala, indicating potential for a significant mineral resource.
SolGold PLC has reported a change in significant shareholder voting rights, with BlackRock Inc. crossing the 5% threshold on 27-Aug-2021. As of this date, BlackRock holds 4.61% of voting rights through direct shares and an additional 0.39% via financial instruments, totaling 5%. This is a change from their previous position of below 5% in earlier notifications. The formal notification to the issuer occurred on 30-Aug-2021, emphasizing BlackRock's increasing stake in SolGold.
On August 24, 2021, SolGold PLC reported a significant change in the voting rights held by BlackRock, Inc. The investment firm has crossed a threshold, now owning below 5% of the company's voting rights. Previously, BlackRock held around 5% with a detailed breakdown of voting rights and financial instruments involved. The notification of this change was made on August 24, 2021, and further information regarding the controlling chains of BlackRock entities was shared, clarifying their investment structure.
On August 19, 2021, SolGold PLC disclosed a significant shareholder notification from BlackRock, Inc., which has acquired a total of 5% voting rights in the company. This includes 4.74% from direct holdings and 0.26% from financial instruments. The threshold was crossed on August 18, 2021, marking a notable change from BlackRock's prior status of below 5%. This acquisition may signal increased institutional interest in SolGold's shares.
On August 12, 2021, SolGold PLC announced a notification regarding the voting rights of BlackRock, Inc. The investment firm reached below a 5% threshold of voting rights in the company on August 11, 2021, down from a previous position of 5.01%. BlackRock's holdings now include various entities under its umbrella, reflecting a significant change in its influence over SolGold's corporate governance. This notification aligns with compliance regulations concerning major holdings in publicly traded companies.
SolGold announces the Ecuadorian government's Executive Decree No. 151, unveiled by President Guillermo Lasso on August 5, 2021. This decree outlines a new mining policy aimed at fostering a secure and environmentally responsible mining industry to attract investment. It emphasizes adherence to mining rights and the eradication of illegal mining, promoting legal mining's economic benefits. SolGold's Vice President, Andrew Taunton, welcomed the initiative, emphasizing its potential for economic growth and job creation in rural communities, reinforcing the strategic importance of mining to Ecuador’s development.
On August 4, 2021, SolGold PLC announced that BlackRock, Inc. crossed a major equity threshold, now holding a total of 5.01% of voting rights in the company. This includes 4.48% through direct shares and 0.53% via financial instruments. The notification follows the acquisition of voting rights on August 3, 2021, marking an increase from BlackRock's previous holdings of below 5%. The transaction reflects BlackRock's increasing influence in the company, with total direct voting rights amounting to 102,916,857.
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