SolGold plc is an emerging copper-gold major focussed on the discovery, definition and development of its copper-gold deposits in Ecuador. The company is listed on the London and Toronto stock exchanges. SolGold's board and management is made up of professionals who have extensive knowledge in

exploration Exploration refers to the historical practice of discovering remote lands. It is studied by geographers and historians. Two major eras of exploration occurred in human history: one of convergence, and one of divergence. The first, covering most ...

, mine development,

investment Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing i ...

finance Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fina ...

and

law Law is a set of rules that are created and are enforceable by social or governmental institutions to regulate behavior,Robertson, ''Crimes against humanity'', 90. with its precise definition a matter of longstanding debate. It has been vario ...

. They hold approximately 15.1% of the company's issued

share capital A corporation's share capital, commonly referred to as capital stock in the United States, is the portion of a corporation's equity that has been derived by the issue of shares in the corporation to a shareholder, usually for cash. "Share capita ...

. The company floated on 10 February 2006, and is focussed on the development of its projects in Ecuador.

History

In December 2009, SolGold announced that it had acquired 100% of the

in Acapulco Mining Pty Ltd, giving it access to several projects in

Queensland ) , nickname = Sunshine State , image_map = Queensland in Australia.svg , map_caption = Location of Queensland in Australia , subdivision_type = Country , subdivision_name = Australia , established_title = Before federation , established_ ...

Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

. It was then announced in July 2009 that SolGold had raised £1.6 million ($19m SBD) to fund additional drilling at the Rannes and Mount Perry projects. The money was raised through the issue of 33.1 million shares, which were sold to private and

institutional investors An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked co ...

. SolGold's directors collectively bought 7.5 million shares. In June 2010, SolGold's former CEO, Nicholas Mather, spoke at the 69th Minesite Mining Forum in

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe b ...

. On 23 September 2010, in what raised SolGold's share price by almost 300%, it announced that 157 samples from its project on the Fauro Island had returned 97.6 grams per tonne (g/t) gold, and 90.1g/t silver. The news also gave huge gains to D'Aguilar Gold, a company which trades on the

Australian Securities Exchange Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as ...

and owns 35.2 million shares in SolGold.

Cascabel

On 11 April 2012, it was announced that SolGold had acquired the right to buy up to 85% of a highly prospective gold-copper-silver project in Ecuador, after signing a binding letter of intent with Cornerstone Capital Resources, a Canadian mining company which is listed on the

TSX Venture Exchange The TSX Venture Exchange is a stock exchange in Canada. It is headquartered in Calgary, Alberta, with offices in Toronto, Vancouver, and Montreal. All trading through the Exchange is done electronically, so the Exchange does not have a "trading f ...

. Just over two months later, it was announced that both parties had finalised the agreement, and a $2.8 million first year exploration programme had begun. Following a magnetic and

radiometric Radiometry is a set of techniques for measuring electromagnetic radiation, including visible light. Radiometric techniques in optics characterize the distribution of the radiation's power in space, as opposed to photometric techniques, which cha ...

survey of Cascabel, as well as soil sampling and rock alteration mapping, the results were said to be both "“very encouraging" and "“extremely prospective". Trench sampling also confirmed

outcropping An outcrop or rocky outcrop is a visible exposure of bedrock or ancient superficial deposits on the surface of the Earth. Features Outcrops do not cover the majority of the Earth's land surface because in most places the bedrock or superficial ...

gold-copper mineralisation. In late January 2013, it was announced that after channel sampling at the Alpapa Creek area of the project, a "significant" gold-copper porphyry was located. After raising a further £1.8 million through a share placement scheme in April, on 2 May SolGold announced that it was ready to award a drill contract for the project. "Six drilling contractors have been invited to tender for the phase 1 drilling programme at Cascabel and five have visited the Cascabel concession and Alpala prospect. Four quotations have been received, with the remaining two due in the next week," SolGold told Proactive Investors.

Top Represented Shareholders

Project areas

Board of Directors and key personnel

References

External links

* {{Authority control Gold mining companies of Australia Copper mining companies of Australia Companies listed on the Toronto Stock Exchange Companies listed on the London Stock Exchange