SolGold PLC (SOLG) - Annual Financial Report
RNS Number : 5459Q
07 November 2012
7 November 2012
("SolGold" or the "Company")
SolGold 2012 Annual Report
The Board of SolGold Plc (SolGold or the Company) is pleased to advise all
shareholders and interested investors of the release of the Company's Annual
Report. A pre-production copy of the report is available via the Company's
website ( www.solgold.com.au ) or by clicking the link below:
The Annual Report has been dispatched for production and printing, and will be
distributed to shareholders in the next few weeks.
By order of the Board
Mr Karl Schlobohm (Company Secretary) Tel: +61 (0)7 3303 0660
Mr Ewan Leggat/Miss Katy Birkin Tel: +44 (0)203 463 2260
S. P. Angel Corporate Finance LLP (Broker)
Mr Stephen Weir Tel: +61 (0)2 9250 0048
RFC Ambrian Limited (Nominated Advisor)
Tel: +44 (0)7768 537 739
Yellow Jersey PR (PR & IR)
NOTES TO EDITORS
SolGold's exploration projects are located in northern Ecuador, Australia, and
the Solomon Islands. In Australia, they comprise 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
Guadalcanal Joint Venture with Newmont Mining Corporation, and in Ecuador a JV
with Cornerstone Capital Resources on the Cascabel gold-copper project.
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). The 2012 exploration program, including
planned drilling to define new ore positions and grow the resource, is
Exploration continues at Mt. Perry, Normanby and Cracow West.
In the Solomon Islands, the 2012 exploration program on the Fauro project has
been delayed while a JV partner is sought to pursue drilling of gold-copper
targets defined in the 2011 exploration program. The 2012 Guadalcanal Joint
Venture with NVL Solomon Islands Limited (a subsidiary of NYSE-listed Newmont
Mining Corporation) is now seeking expressions of interest for possible
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 17.5% 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 424,242,966 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.
This information is provided by RNS
The company news service from the London Stock Exchange
ACSLLFILLVLDIIF -0- Nov/07/2012 11:13 GMT
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