Appointment of GMP Securities as Joint Broker

RNS Number : 9663U

SolGold PLC

22 October 2014

 



22 October 2014

SolGold plc

("SolGold" or the "Company")

SolGold Appoints GMP as Joint Broker to the Company

The Directors of SolGold plc ("SolGold" or the "Company") are pleased to advise that the Company has today appointed GMP Securities Europe LLP as its joint corporate broker with immediate effect.  SP Angel will continue as a Nominated adviser and broker to the Company.

SolGold is confident that the GMP appointment will strongly augment SP Angel in providing a broad range of financial and broking services to the Company.  GMP issued a research note on SolGold and the Cascabel Project on 16 October, 2014. 

Commenting on the appointment, SolGold CEO and MD, Mr Alan Martin said:

"The global broking business of GMP is very impressive in the mining and resource sectors.  GMP's familiarity with and understanding of large-scale porphyry discoveries and operations is very attractive to us.  Cascabel continues to demonstrate the potential to host world class copper-gold porphyry deposits, and GMP's experience capability and expertise in research and capital markets will be very helpful to the Company as we further explore and define the porphyry targets within the Cascabel concession."

By order of the Board

Karl Schlobohm

Company Secretary

Contacts:

Mr Alan Martin

SolGold Plc (CEO and Managing Director)                                             Tel: [phone]

[e-mail]

Mr Nicholas Mather                                                                                       Tel: [phone]

SolGold Plc (Executive Director)

[e-mail] 

Mr Karl Schlobohm                                                                                        Tel: [phone]

SolGold Plc (Company Secretary)

[e-mail]  

Mr Ewan Leggat / Ms Katy Birkin                                                              Tel: [phone]

SP Angel Corporate Finance LLP (NOMAD and Broker)

[e-mail]  

Richard Greenfield / Alexandra Carse                                                    Tel: [phone]

GMP Securities Europe LLP (Joint Broker)

[e-mail]

Mr Dominic Barretto / Ms Anna Legge                                                  Tel: [phone]

Yellow Jersey PR Limited (Financial PR)

[e-mail]  

NOTES TO EDITORS

SolGold's exploration projects are located in northern Ecuador, Australia, and the Solomon Islands. In Ecuador, they consist of a joint venture with Cornerstone Capital Resources Inc. on the Cascabel copper-gold project.  In Australia, SolGold holds 100% of the Rannes, Mt Perry, Cracow West and Normanby Projects, all in southeast Queensland. In the Solomon Islands they comprise the Fauro Project (located on Fauro Island), and the Lower Koloula, Malukuna and Kuma licenses, which are located on Guadalcanal. 

The Cascabel copper-gold project is located approximately 180km by sealed road north of Ecuador's capital, Quito, 20 km south of the Colombian border, and 75km inland from the coastal city of San Lorenzo.

At the Rannes project SolGold has announced indicated and inferred resources of 18.7 million tonnes at 0.9 g/t gold equivalent (gold + silver) for 550,146 ounces of gold equivalent (296,657 ounces of gold and 10,137,736 ounces of silver; see announcement dated 23 May 2012 for details of the resource statement and gold equivalent ratios).  The Rannes project is currently under review.

In the Solomon Islands, a soil geochemical survey and 3D modelling of magnetic data has been approved at Kuma.

SolGold's objective is to create substantial shareholder value by discovering and defining world-class copper-gold deposits.

SolGold's Board includes accomplished professionals with strong track records in the areas of exploration, mine development, investment, finance and law.  Board and Management have significantly vested interests in the Company, holding approximately 14% of its issued share capital.

SolGold is based in Brisbane, Queensland, Australia.  The Company listed on London's AIM Market in 2006, under the AIM code 'SOLG' and currently has a total of 652,153,202 fully paid ordinary shares, 12,820,000 options exercisable at 50p, 12,730,000 options exercisable at 28p and 9,730,000 options exercisable at 14p.

CAUTIONARY NOTICE

The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

 

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