SolGold and Cornerstone to cooperate in Cascabel copper project
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SolGold and Cornerstone decide to pull together in Ecuador
SolGold’s Cascabel copper-gold project, 180 km north of the capital Quito. (
Image courtesy of SolGold)
SolGold (LON, TSX: SOLG) and shareholder Cornerstone (TSX-V: CGP) have ended a two-year standoff that cost the miner’s chief executive his post, agreeing to jointly advance the Cascabel copper-gold project in Ecuador.
The move would allow the parties to explore financing options for the mine, which is expected to begin production in 2025.
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Canada’s Cornerstone has a 6.9% stake in SolGold, making it the miner’s fourth-biggest shareholder after BHP, Newcrest and DGR Global. The Ontario-based junior also holds a 15% interest in the Cascabel concession’s holding company ENSA.
SolGold PLC Announces Proposed Placing and Retail Offer
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THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) DOES NOT CONSTITUTE AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR (OR THE SOLICITATION OF AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR) ORDINARY SHARES TO ANY PERSON WITH A REGISTERED ADDRESS IN, LOCATED IN, OR WHO IS A RESIDENT OF, THE UNITED STATES, AUSTRALIA, NEW ZEALAND, HONG KONG, JAPAN, SOUTH AFRICA OR IN ANY OTHER JURISDICTION, WHERE SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL OR CONTRAVENE ANY REGISTRATION OR QUALIFICATION REQUIREMENTS UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN (INCLUDING THE APPENDIX) IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, HONG KONG, NEW ZEALAND, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION, WHERE SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) DOES NOT CONSTITUTE AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR (OR THE SOLICITATION OF AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR) ORDINARY SHARES TO ANY PERSON WITH A REGISTERED ADDRESS IN, LOCATED IN, OR WHO IS A RESIDENT OF, THE UNITED STATES, AUSTRALIA, NEW ZEALAND, HONG KONG, JAPAN, SOUTH AFRICA OR IN ANY OTHER JURISDICTION, WHERE SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL OR CONTRAVENE ANY REGISTRATION OR QUALIFICATION REQUIREMENTS UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
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