Additional Information
Market: AIM
Sector: Gold Mining
EPIC: SOLG
1 year chart
1 day chart

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." 


 

No investment advice


Proactive Investors North America Inc, trades as "Proactiveinvestors USA & Canada".


You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.


You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.


From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.


You understand that we may be providing advertising and/or marketing services to companies mentioned on the site. A full list of companies that are paying for services from us, or our affiliated companies in the UK and Australia can be viewed here