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SolGold PLC SOLG Annual Financial Report



  SolGold PLC (SOLG) - Annual Financial Report

RNS Number : 5459Q
SolGold PLC
07 November 2012
 

 

                                                               7 November 2012

                                       

                                 SolGold plc

                         ("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:

 

http://www.rns-pdf.londonstockexchange.com/rns/5459Q_1-2012-11-7.pdf

  

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

Karl Schlobohm

Company Secretary

 

 

Contact details:

 

Mr Karl Schlobohm (Company Secretary)               Tel: +61 (0)7 3303 0660

SolGold Plc

kschlobohm@solgold.com.au

 
Mr Ewan Leggat/Miss Katy Birkin                     Tel: +44 (0)203 463 2260

S. P. Angel Corporate Finance LLP (Broker)

ewan.leggat@spangel.co.uk/katy.birkin@spangel.co.uk

 
Mr Stephen Weir                                     Tel: +61 (0)2 9250 0048

RFC Ambrian Limited (Nominated Advisor)

stephen.weir@rfcambrian.com 

 

Mr                                                                     Dominic 
Barretto                                                                     
                            Tel: +44 (0)7768 537 739

Yellow Jersey PR (PR & IR)

dominic@yellowjerseypr.com  

 

 

 

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 
underway.

 

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 
divestment.

 

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
 
END
 
 
ACSLLFILLVLDIIF -0- Nov/07/2012 11:13 GMT
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