SolGold strengthens financial position and advances projects

LONDON - SolGold PLC (LSE & TSX:SOLG), a leading resources company, has released its third-quarter financial report and Management Discussion & Analysis (MD&A) for the period ending March 31, 2025. The documents, now available on the company’s website, provide shareholders and investors with detailed updates on the company’s progress and financial status.

During the quarter, SolGold saw significant changes in its leadership structure, with Dan Vujcic stepping in as Chief Executive Officer and Paul Smith taking the role of Non-Executive Chairman. Charles Joseland was appointed as Senior Independent (LON:IOG) Director, enhancing the board’s independence and oversight capabilities.

The company also reported a strategic investment from Jiangxi Copper, which purchased 157.1 million shares at a 45% premium to the market price. This investment increased Jiangxi Copper’s stake in SolGold to over 12% and included an agreement for Jiangxi Copper to provide technical support at no cost to SolGold.

Progress was made on the Porvenir Project, with the receipt of the advanced exploration permit and, subsequent to the quarter’s end, the acquisition of the environmental license. These developments clear the way for further drilling and technical work.

SolGold also executed an Amended Investment Protection Agreement (AIPA) with the Ecuadorian government, ensuring long-term legal and fiscal stability for the Cascabel Project and recognizing over US$311 million in historical investment.

Financially, the company ended the quarter on a strong note, with a cash boost of US$18.1 million from share sales. In addition, SolGold launched community-focused sustainability programs, including waste management initiatives, health and agroforestry projects, and sponsored scholarships for the WIM Ecuador "Soy Operadora" training program.

CEO Dan Vujcic expressed optimism about the company’s direction, citing the AIPA as a key milestone in de-risking the Cascabel Project and expressing confidence in the value of the project as recognized by Jiangxi Copper’s investment.

SolGold’s prior announcements include a Pre-Feasibility Study, a gold stream agreement with Franco Nevada and Osisko Royalties, and the appointment of G-Mining Services as the Project Manager for the Feasibility Study. The company continues to advance de-risking programs, permitting, and financing discussions, and reevaluates the Project at recent consensus prices for copper and gold.

The information in this article is based on a press release statement from SolGold PLC.

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