Additional Information
Market: AIM
Sector: Gold Mining
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SolGold is Brisbane based and carries a diverse portfolio of exploration projects in Ecuador, Solomon Islands and Australia. SolGold's projects include, Ecuador, Cascabel in Joint Venture with Cornerstone Capital Resources, Guadalcanal and Fauro (Solomon Islands) and Rannes and Mt Perry (Queensland, Australia). The company is listed on London’s Alternative Investment Market under the AIM Code ‘SOLG’.

SolGold and Newmont seek potential buyers for Guadalcanal Joint Venture

12th Sep 2012, 3:59 am by Ian Lyall
SolGold and Newmont seek potential buyers for Guadalcanal Joint Venture


SolGold (LON:SOLG) announced this morning that it and partner Newmont Mining (NYSE:NEM) are seeking potential buyers for their Guadalcanal Joint Venture.

A subsidiary of Newmont, which own 74 per cent of the project, is managing the marketing exercise, while SolGold will be “is being kept up to date on developments”.

“Offers will be reviewed and decisions as to next steps will be taken at that time,” the junior explorer said.

The joint-venture comprises of five gold prospecting licences on the island of Guadalcanal. A total of US$19 million has been spent on it since 2009. SolGold retains a 26 per cent stake.

Chief executive Malcolm Norris said: "Our position with respect to our interest in the Guadalcanal Joint Venture is such that we can consider options as they are presented to us.  

“The board believes that the Solomon Islands is an area that has the potential to host large mineral deposits and continues to look at opportunities in the region that would complement the SolGold portfolio.  

“We will continue to update the market on developments with the Guadalcanal Joint Venture marketing process." 


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