REG - SolGold PLC - Third-Quarter Financial Report and Quarterly MD&A

SolGoldAnnouncement

16/05/2024 07:00

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RNS Number : 6938O  SolGold PLC  16 May 2024

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
(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
(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)
(https://polaris.brighterir.com/public/solgold/news/rns/story/xze09lx)

·    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)
(https://polaris.brighterir.com/public/solgold/news/rns/story/rggnz3r)

·    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)
(https://polaris.brighterir.com/public/solgold/news/rns/story/w1k933x)

·    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)
(https://polaris.brighterir.com/public/solgold/news/rns/story/w0j96px)

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              Tel: +44 (0) 20 3807 6996

 Chief Executive Officer

 Tavistock (Media)           Tel: +44 (0) 20 7920 3150

 Jos Simson/Gareth Tredway

 

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 (http://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
(http://www.sedar.com) . 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 (http://www.solgold.com.au) for more information.
Follow us on 'X' @SolGold_plc

 

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