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Response to Share Price Activity

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RNS Number : 5184P
SolGold PLC
10 October 2019
 

10 October 2019

 

SolGold

 

(SolGold" or the "Company")

 

Response to Share Price Activity

 

 

Following recent media reports regarding protests in Ecuador the Board of SolGold wishes to inform shareholders that the Company's operations remain unaffected. The safety and security of SolGold employees is of paramount importance, and the Company has taken all necessary precautions and actions to ensure this is maintained.

 

The protests were sparked by President Moreno's announcement of an economic package on 1 October 2019 which included the removal of fuel subsidies, in order to meet International Monetary Fund commitments. SolGold understands that the government has initiated discussions with some groups and progress has been made. It is expected that the protests may continue in the short term, however SolGold has every confidence that the Government with the support of Ecuadorean institutions, will be able to adequately address the situation and restore order in the near term.

 

The Company remains on track to deliver a third Mineral Resource Estimate of the Alpala Deposit in Q4 2019 and Pre-Feasibility Study in Q1 2020, and does not expect these to be impacted by the current disruptions.

 

The Cascabel project is a key project in Ecuador's developing mining industry and a critical driver for the future of Ecuador's economy in the view of the government.  SolGold continues to receive full and objective support from the Ecuadorean government.

SolGold is committed to building an integrated explorer, appraiser and miner in the copper and gold industry in Ecuador, and enjoys the support of its major shareholders, including Newcrest and BHP. SolGold is committed to the country's economic development, provides employment and conducts responsible mining in line with local and international laws and standards. 

 

 

-Ends-

 

Nicholas Mather

SolGold Plc (Chief Executive Officer) [email protected]

 

Tel: +61 (0) 7 3303 0665

+61 (0) 417 880 448

Karl Schlobohm

SolGold Plc (Company Secretary)

[email protected]

 

 

Tel: +61 (0) 7 3303 0661

Anna Legge

SolGold Plc (Corporate Communications) [email protected]

 

 

Tel: +44 (0) 20 3823 2131

Gordon Poole / Nick Hennis

Camarco (Financial PR / IR)

[email protected]

 

 

Tel: +44 (0) 20 3757 4997

Ross Allister / David McKeown

Peel Hunt (Joint Broker and Financial Advisor)

[email protected]

 

Tel: +44 (0)20 7418 8900

Andrew Chubb

Hannam & Partners (Joint Broker and Financial Advisor)

[email protected]

 

Tel: +44 (0) 20 7907 8500

James Kofman / Darren Wallace

Cormark Securities Inc. (Financial Advisor)

[email protected]

 

Tel: +1 416 943 6411

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
RSPLLFIVIVLILIA

Quick facts: SolGold plc

Price: 19.2

Market: AIM
Market Cap: £354.49 m
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