16 May 2024
SolGold plc
("SolGold" or the "Company")
Third-Quarter Financial Report
and
Quarterly MD&A
SolGold (LSE & TSX: SOLG) is
pleased to announce the release of the
Company's financial results for the third quarter ended 31 March
2024. The full financial report is available here: http://www.rns-pdf.londonstockexchange.com/rns/6938O_1-2024-5-16.pdf
Furthermore, the Company advises
that the Company's website also contains access to additional
information required to be filed on SEDAR+ in Canada in connection
with the Company's quarterly financial period ended 31 March 2024.
The Management Discussion and Analysis report is available
here: http://www.rns-pdf.londonstockexchange.com/rns/6938O_2-2024-5-16.pdf
Highlights of the Period
Include:
·
Completion of the
updated Cascabel Pre-Feasibility Study ("PFS"):
The updated PFS incorporates a phased
approach plan, significantly reducing initial capital costs. Key
figures include a pre-tax NPV8% of $5.4bn, 33% IRR, and a post-tax
NPV8% of $3.2bn with a 24% IRR. The PFS presents significant
copper, gold, and silver production estimates over a 28-year mine
life, updated mineral resource and reserve statements for the
Alpala Deposit and an updated mineral resource statement for the
Tandayama America deposit.
(PFS Announcement)
·
Appointment of
Mr. Jian (John) Liu and Mr. Charles Joseland to the Board of
Directors: Mr. Lui and Mr. Joseland
bring extensive experience and valuable insights that will support
SolGold's strategic initiatives and governance.
(Directors Announcement)
·
The
Blanca-Nieves
Project Exploration Update: Assays
from channel-saw samples of gold-bearing epithermal quartz vein
outcrops at the Florida target returned results of 6.15m @ 7.46 g/t
Au, including 2.2m @ 21.1 g/t Au. Additionally, a significant
porphyry target has been identified at Cielito Norte, covering
approximately 2.5 x 2.5 km, approximately 8m from the Cascabel
project of about 8 km.
(Exploration Update)
·
Memorandum of
Understanding ("MOU") for Hydro-Solar Energy
Initiative: SolGold has signed
an MOU with Grupo Empresarial Semaica, Enerhydra, and Constructora
Nacional S.A. for a sustainable hydro-solar energy initiative at
the Cascabel Project. The collaboration aims to develop a Power
Project delivering approximately 200 megawatts of renewable energy,
aligning with environmental stewardship and economic development
goals, with partnerships established to secure financing and ensure
adherence to regulatory standards. (MOU
Announcement)
This announcement was approved for
release by Scott Caldwell - Chief Executive Officer.
Certain information contained in
this announcement would have been deemed inside
information.
CONTACTS
Scott Caldwell
Chief Executive Officer
|
Tel: +44 (0) 20 3807
6996
|
Tavistock (Media)
Jos Simson/Gareth Tredway
|
Tel: +44 (0) 20 7920 3150
|
ABOUT SOLGOLD
SolGold is a leading resources
company focused on the discovery, definition and development of
world-class copper and gold deposits and continues to strive to
deliver objectives efficiently and in the interests of
shareholders.
The Company operates with
transparency and in accordance with international best practices.
SolGold is committed to delivering value to its shareholders while
simultaneously providing economic and social benefits to impacted
communities, fostering a healthy and safe workplace, and minimizing
environmental impact.
SolGold is listed on the London
Stock Exchange and Toronto Stock Exchange (LSE/TSX:
SOLG).
See www.solgold.com.au
for more
information.
CAUTIONARY NOTICE
News releases, presentations and
public commentary made by SolGold plc (the "Company") and its Officers may contain
certain statements and expressions of belief, expectation or
opinion which are forward looking statements, and which relate,
inter alia, to interpretations of exploration results to date and
the Company's proposed strategy, plans and objectives or to the
expectations or intentions of the Company's Directors, including
the plan for developing the Project currently being studied as well
as the expectations of the Company as to the forward price of
copper. Such forward-looking and interpretative statements involve
known and unknown risks, uncertainties and other important factors
beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially
different from such interpretations and forward-looking
statements.
Accordingly, the reader should not
rely on any interpretations or forward-looking statements; and save
as required by the exchange rules of the TSX and LSE or by
applicable laws, the Company does not accept any obligation to
disseminate any updates or revisions to such interpretations or
forward-looking statements. The Company may reinterpret results to
date as the status of its assets and projects changes with time
expenditure, metals prices and other affecting
circumstances.
This release may contain
"forward‑looking information". Forward‑looking information
includes, but is not limited to, statements regarding the Company's
plans for developing its properties. Generally, forward‑looking
information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved".
Forward‑looking information is
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of the Company to be materially different from
those expressed or implied by such forward‑looking information,
including but not limited to: transaction risks; general business,
economic, competitive, political and social uncertainties; future
prices of mineral prices; accidents, labour disputes and shortages
and other risks of the mining industry. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended.
There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Factors that
could cause actual results to differ materially from such
forward-looking information include, but are not limited to, risks
relating to the ability of exploration activities (including assay
results) to accurately predict mineralization; errors in
management's geological modelling and/or mine development plan;
capital and operating costs varying significantly from estimates;
the preliminary nature of visual assessments; delays in obtaining
or failures to obtain required governmental, environmental or other
required approvals; uncertainties relating to the availability and
costs of financing needed in the future; changes in equity markets;
inflation; the global economic climate; fluctuations in commodity
prices; the ability of the Company to complete further exploration
activities, including drilling; delays in the development of
projects; environmental risks; community and non-governmental
actions; other risks involved in the mineral exploration and
development industry; the ability of the Company to retain its key
management employees and skilled and experienced personnel; and
those risks set out in the Company's public documents filed on
SEDAR+ at www.sedarplus.ca.
Accordingly, readers should not place undue reliance on
forward‑looking information. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.
The Company and its officers do not
endorse, or reject or otherwise comment on the conclusions,
interpretations or views expressed in press articles or third-party
analysis.
See www.solgold.com.au
for more information. Follow us on 'X'
@SolGold_plc