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 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.
SolGold has successfully completed a US$50 million royalty financing agreement with Osisko Gold Royalties for its Cascabel copper-gold project in Ecuador. Osisko will receive a 0.6% royalty based on net smelter returns from the project. Interim CEO Scott Caldwell emphasized that this partnership enhances SolGold's capacity for growth and exploration, positioning the company to create more shareholder value. Osisko CEO Sandeep Singh expressed excitement about participating in the development of the Cascabel project, recognizing its quality and size in the mining sector.
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.
