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 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.
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.
SolGold announced a decrease in Blackrock Inc.'s stake from 5.65% to below 5.00% due to recent share issuance and market transactions. This reduction results from the company's placement announced on April 28, 2021, highlighting potential dilution effects on shareholders. SolGold, recognized for leading resource exploration in Ecuador, holds an 85% interest in the ENSA project, which encompasses the highly prospective Alpala deposit. The company continues to focus on expanding its operations while adhering to transparency and best practices in resource management.
SolGold Announces Shareholder Dilution
SolGold reports that DGR Global Limited's shareholding has diluted from 9.80% to 8.91%, holding 204,151,800 shares post a recent placing. Cornerstone Capital Resources' shareholding also decreased from 7.54% to 6.86%, maintaining 157,141,000 shares. This dilution follows the issuance of new shares as part of the company's capital raising efforts.
SolGold announces that its total issued share capital consists of 2,292,316,432 ordinary shares with voting rights. Currently, the company holds no treasury shares, meaning that this number is crucial for shareholders to evaluate their interest in the company. The press release is part of the FCA's Disclosure and Transparency Rules. SolGold is recognized for its significant exploration efforts in Ecuador, emphasizing its commitment to responsible resource development and stakeholder engagement.
On April 30, 2021, SolGold plc announced director share acquisitions related to a recent capital raising. Directors Liam Twigger, Kevin O'Kane, Brian Moller, Keith Marshall, Nicholas Mather, Maria Amparo Alban, James Clare, and Elodie Grant Goodey participated in the placing at a price of 25.5p per share. Total shares acquired included 392,156 shares by Twigger, O'Kane, Mather, and Clare, along with smaller quantities by other directors, amounting to approximately GBP 99,999.78 in total. These transactions comply with the Market Abuse Regulation requirements.
SolGold plc has successfully completed a Placing and Retail Offer, raising approximately US$73.8 million (£53.1 million) through the placement of 208,202,938 new Ordinary Shares. The shares were sold at a Placing Price of 25.5 pence, reflecting an 11.1% discount from the previous closing price. Proceeds will fund at least 40,000 meters of diamond core drilling, technical services, and CSR initiatives. The shares are expected to be admitted for trading on the London Stock Exchange and TSX on April 30, 2021.
