Solgold (SOLG)



  • Change Today:
  • 52 Week High: 40.30
  • 52 Week Low: 21.75
  • Currency: UK Pounds
  • Shares Issued: 2,293.82m
  • Volume: 1,843,612
  • Market Cap: £651.44m
  • RiskGrade: 365

SolGold completes $100m financing to advance Alpala project

By Josh White

Date: Monday 14 Sep 2020

LONDON (ShareCast) - (Sharecast News) - SolGold has completed its $100m (£77.64m) royalty financing, it announced on Monday, under the net smelter return financing agreement with Franco-Nevada over its flagship Alpala copper-gold project, and the remainder of the Cascabel concession in northern Ecuador.
The AIM-traded firm said Franco-Nevada submitted $100m to it under the agreement on 11 September, less the amount of outstanding principal and interest under the $15m secured bridge loan as announced in May.

It said the aggregate amount owing under the bridge loan agreement was thus repaid out of the proceeds of the net smelter return financing.

As a result, SolGold said it was not required to issue 12,220,000 warrants to Franco-Nevada that would have been required had it chosen to extend the maturity date under the bridge loan agreement for a further four month term.

"SolGold will apply the funds received to progress the Alpala Project through to a final feasibility study and a development decision," the board explained in its statement.

"The balance of the proceeds are expected to be used for SolGold's share of the development of Alpala pursuant to agreements with the minority shareholder of Exploraciones Novomining (ENSA), Cornerstone Capital Resources."

In return for the royalty purchase price, Franco-Nevada had been granted a perpetual 1% royalty interest to be calculated by reference to net smelter returns from the Cascabel concession area, the company said.

Additionally, the net smelter return financing could be upsized by $50m at SolGold's choice, to a 1.5% net smelter return royalty interest on or before 11 January.

At 1319 BST, shares in SolGold were up 1.14% at 26.7p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.


Solgold Market Data

Currency UK Pounds
Share Price 28.40p
Change Today -0.80p
% Change -2.74 %
52 Week High 40.30
52 Week Low 21.75
Volume 1,843,612
Shares Issued 2,293.82m
Market Cap £651.44m
RiskGrade 365

Solgold Star Ratings

Compare performance with the sector and the market.
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Key: vs Market vs Sector
Value Not Available
Price Trend
98.01% above the market average98.01% above the market average98.01% above the market average98.01% above the market average98.01% above the market average
68.06% above the sector average68.06% above the sector average68.06% above the sector average68.06% above the sector average68.06% above the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 4
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 5
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Solgold Dividends

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Trades for 01-Jul-2022

Time Volume / Share Price
16:35 186,090 @ 28.40p
16:28 394 @ 28.35p
16:28 1,680 @ 28.35p
16:28 358 @ 28.35p
16:28 329 @ 28.35p

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