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  2. Share Prices
  3. SolGold Share Price
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  5. SolGold turns to annual profit on remeasurement of liability

Pin to quick picksSolGold Share News (SOLG)

SolGold Information

Share Price Information for SolGold (SOLG)

London Stock Exchange
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Share Price: 8.86
Bid: 8.89
Ask: 8.94
Change: -0.02 (-0.23%)
Spread: 0.05 (0.562%)
Open: 9.00
High: 9.00
Low: 8.62
Prev. Close: 8.88
SOLG Live PriceLast checked at -

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SolGold turns to annual profit on remeasurement of liability

Thu, 29th Sep 2022 11:50

(Alliance News) - SolGold PLC on Thursday posted a profit due to the reassessment of a financial liability for the Alpala mine project in Ecuador.

SolGold is a Brisbane, Australia-based developer of copper-gold deposits in Ecuador.

It swung to a pretax profit of USD2.8 million in the financial year that ended June 30, versus a loss of USD23.6 million the year prior. The company does not generate revenue. The remeasurement of amortised costs of the Alpala expenditure gained SolGold a one-off boost to exploration assets of USD35.0 million.

Administrative expenses, meanwhile, grew by more than a third to USD17.6 million from USD12.9 million.

SolGold shares were 7.2% lower at 14.68 pence each in London on Thursday morning.

By Tom Budszus; tombudszus@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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