Issue of Equity

RNS Number : 3260D

SolGold PLC

27 March 2014

 



27 March, 2014

SolGold Plc

("SolGold" or the "Company")

Announcement to London Stock Exchange

Issue of Equity

The Board of SolGold (AIM code: SOLG) is pleased to advise of Director and Management participation in an equity raising on the same terms and conditions as the £4m recently raised from third parties as announced on 24 March 2014.  

A total of 2,665,999 shares are to be allotted at 9 pence each, for a raising amount of £239,940. 

The 2,665,999 shares are expected to be admitted for trading on Thursday, 3 April 2014. 

Changes to the Director's holdings are as follows:

Company Director	Pre Placement Shareholding	% Total	Placement Shares Issued	Shareholding Following Placement	% Total
Nicholas Mather	63,297,348	9.7%	2,222,222	65,519,570	10.0%
Alan Martin	9,200,000	1.4%	-	9,200,000	1.4%
Brian Moller	2,302,145	0.4%	91,827	2,393,972	0.4%
Robert Weinberg	2,200,955	0.4%	104,016	2,304,971	0.4%
John Bovard	3,307,553	0.5%	-	3,307,553	0.5%
Total Company	649,487,203	100%		652,153,202	100%

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 (Broker)

[e-mail]  

Mr Stephen Weir                                                                                                             Tel: [phone]

RFC Ambrian Limited (Nominated Advisor)

[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 JV 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 180 km by sealed road north of Ecuador's capital, Quito, 20 km south of the Colombian border, and 75 km 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 is being considered at Kuma, while a JV partner is being sought for the Fauro project to pursue drilling of gold-copper targets defined in the 2011 exploration program. 

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 Alternative Investment Market (AIM) in 2006, under the AIM code 'SOLG' and currently has a total of 652,153,202 fully-paid ordinary shares, 19,256,000 options exercisable at 50p, 11,550,000 options exercisable at 28p, 7,550,000 options exercisable at 14p, and 3,000,000 options exercisable at 6p on issue.

 

END

 

 

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