Holdings in Company and Directors Interests

RNS Number : 2128C

SolGold PLC

12 April 2013

 



                                                                                                                               12 April 2013

SolGold Plc

("SolGold" or the "Company")

Announcement to London Stock Exchange

Holdings in Company

Updated Directors Interests in Shares

Pursuant to AIM Rule 17, and in accordance with the Disclosure and Transparency Rules ("DTR"), SolGold plc (the "Company") was informed today by DGR Global Limited that, in fulfilment of its obligations under Rule 5 of the DTR, it acquired a further 8,280,000 ordinary shares in the Company pursuant to the recent capital raising and admission, taking its total shareholding to 54,517,440 ordinary shares.  After taking into account the shares allotted and admitted to trading for the recent capital raising, its interest has decreased from 10.9 per cent to 10.0 per cent of the Company's issued share capital.

Also pursuant to AIM Rule 17, and in accordance with the DTR, the Company was informed today by Tenstar Trading Limited that, in fulfilment of its obligations under Rule 5 of the DTR, it acquired a further 9,200,000 ordinary shares in the Company pursuant to the recent capital raising and admission, taking its total shareholding to 84,533,255 ordinary shares.  After taking into account the shares allotted and admitted to trading for the recent capital raising, its interest has decreased from 17.8 per cent to 15.5 per cent of the Company's issued share capital.

Director Interests

The table below sets out each director's interests in the Ordinary Shares of the Company before and after the current share placement.

Company Director	Pre Placement Shareholding	% Total	Placement Shares Issued	Shareholding Following Placement	% Total
Nicholas Mather	54,157,430	12.8%	8,364,318	62,521,748	11.5%
Brian Moller	1,811,720	0.4%	345,000	2,156,720	0.4%
Robert Weinberg	1,386,435	0.3%	669,095	2,055,530	0.4%
John Bovard	2,183,958	0.5%	920,000	3,103,958	0.6%
Total Company	424,242,966		119,801,376	544,044,342

By order of the Board

Karl Schlobohm

Company Secretary

Contacts:

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 / Katy Birkin                                                         Tel: [phone]

SP Angel Corporate Finance LLP (Broker)

[e-mail]  

Mr Stephen Weir                                                                              Tel: [phone]

RFC Ambrian Limited (Nominated Advisor)

[e-mail]  

Mr Dominic Barretto / 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 comprise of a JV with Cornerstone Capital Resources Inc. on the Cascabel gold-copper project.  In Australia, SolGold holds 100% of the Rannes, Mt Perry, Cracow West and Normanby Projects, all in southeast Queensland and in the Solomon Islands they comprise the Fauro Project (located on Fauro Island), and the Guadalcanal Joint Venture with Newmont Mining Corporation.

In July 2012, SolGold and Cornerstone Capital Resources Inc. announced that they had signed a Definitive Option Agreement whereby SolGold may acquire up to 85% of Cornerstone's 100% owned 5,000 hectare Cascabel gold-copper-silver property in northern Ecuador.

The Cascabel project is located approximately 120 km north of Ecuador's capital, Quito, 20 km south of the Colombian border, and 75 km inland from the coastal city of San Lorenzo.  The gold-copper porphyry project is located within the Andean western cordillera, host to numerous Tier 1 world class copper-gold deposits through Chile, Peru, Ecuador and Colombia.

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).  Exploration continues at Mt. Perry, Normanby and Cracow West.

In the Solomon Islands, a JV partner is being sought for the Fauro project to pursue drilling of gold-copper targets defined in the 2011 exploration program.  The Guadalcanal Joint Venture (GJV) with NVL Solomon Islands Limited (a subsidiary of NYSE-listed Newmont Mining Corporation) is to be terminated following finalisation of divestment arrangements as previously announced.

SolGold's strategy is to be an integrated gold and copper discoverer, developer and miner.

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 13.5% of its issued share capital.

SolGold is based in Brisbane, Queensland, Australia.  The Company listed on London's Alternative Investment Market in 2006, under the AIM Code 'SOLG' and currently has a total of 544,044,342 fully-paid ordinary shares, 10,700 Convertible Redeemable Preference Shares, 9,472,000 options exercisable at 50p, 1,250,000 options exercisable at 28p and 1,250,000 options exercisable at 14p on issue.  Further details concerning the Company's key projects and personnel can be found at www.solgold.com.au 

 

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