SolGold Share News (SOLG)

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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Cloudbreak Discovery PLC - gold and metals project developer targeting Western Australia - Announces that it is proceeding with the acquisition of 90% of the Paterson Gold-Copper-Molybdenum Project. Paterson covers 888 kilometres squared in the Paterson Province of Western Australia. Cloudbreak says that drilling was last completed in 1987, with multiple significant drilling intercepts, although historic exploration was seeking copper rather than gold. Adds that the significant intercepts are shallow and can be targeted using reverse circulation drilling, and that multiple geophysical targets have been identified but are yet to be drill tested. "Technological advances in geophysics since the 80's have improved greatly with the success of Mobile MT in the Paterson Province, we intend to start off with this geophysical survey, to use as another vector and data layer to refine and rank drill targets not only for copper but for gold as well," comments Managing Director Tom Evans. "I am excited, for the company and its shareholders, as we progress this great opportunity and I look forward to updating the market as our exploration programs progress."

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Kavango Resources PLC - London-based, South Africa-focused metals explorer and gold producer - Announces the maiden mineral resource estimate for the Bill's Luck Gold Mine within the Hillside Gold Project in Zimbabwe. The preliminary JORC-compliant MRE totals 33,900 ounces of gold at 2.68 grammes per tonne. This comprises 2,600 oz/Au at 3.3 g/t in the measured category; 13,400 oz/Au at 2.7 g/t in the indicated category; and 18,000 oz/Au at 2.6 g/t in the inferred category. The resource is reported at a 0.5 g/t cut-off grade, Kavango says, "based on reasonable prospects for economic extraction at a gold price of USD3,000/oz." Brings Hillside's total gold resource to 52,900 ounces. Kavango's technical team is also working on the economic feasibility of small scale, trial mining pits in the unconsolidated sediments overlying the Nightshift project, Kavango says, "to further boost gold production in a historically high gold price environment." "The delineation of this resource paves the way for a process of longer-term mine planning and efficient gold extraction to unlock further value, Interim Chief Executive Officer Peter Wynter Bee says. "We are well-positioned to ramp up production and capitalise on the strong gold price environment as our CIP plant comes online."

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Cornish Metals PLC - mineral exploration and development company focused on the South Crofty tin mine in Cornwall, England - Says underground and surface works are advancing, including the completion of the New Cook's Kitchen shaft mid-shaft pump station refurbishment; process plant excavation, front-end engineering design, and detailed engineering "progressing according to plan"; and Mine Dry phase 2 construction progressing as planned, with completion targeted in the first quarter of this year. Essential pre-production development at the 290-level has been brought forward to the third quarter, and Cornish Metals expects shaft refurbishment and mine dewatering to be completed in early 2027. Expects to start surface exploration drilling programme in March, to target mineral resource expansion. Company maintains guidance for first tin production in mid-2028. "With multiple workstreams advancing in parallel, we remain focused on disciplined execution as we continue to advance South Crofty towards production," comments CEO Don Turvey. "The tin price is very well supported by a tight physical market, growing demand for technology applications and lagging supply, amplifying the need for new and secure mined tin supply that South Crofty can deliver."

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Roadside Real Estate PLC - Abingdon, England-based investor in roadside property such as petrol stations and convenience stores - Agrees amendments to the terms of its put option agreement with CGV Ventures 1 Ltd, originally entered on June 26. The deal enables Roadside to realise at least GBP48 million from the future sale of its remaining 48.2% interest in Cambridge Sleep Sciences Ltd. The amendments mean that the exercise periods of the put option have been accelerated, resulting in the disposal of Roadside's interest in CSS being restructured into three tranches instead of the original two. Consequently, Roadside says that up to approximately 29.0% of its current interest in CSS can be sold to CGV in March for up to GBP14 million. A further 29.0% can be sold in June for the same maximum amount, and the remainder can be sold in September for up to GBP20 million. Roadside expects to use the majority of proceeds to fund its "ongoing transition as it builds a scalable, petrol forecourt and convenience retail business."

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SolGold PLC - Ecuador-focused gold and copper miner - Says final assay results have now been received for all drill holes in the 2025 drilling programme at the Tandayama-America deposit, and that drilling to date is encouraging. Company also says, however, that based on management's latest projections, it would need to raise further funding by the second quarter to be able to continue its development activities. Says any financing would likely take the form of issuing new equity to existing and potentially new shareholders, potentially at a material discount to the offer price from Jiangxi Copper Co Ltd. SolGold and Jiangxi Copper (Hong Kong) Investment Company Ltd, Jiangxi Copper's investment arm, agreed on the acquisition offer, for 28 pence per SolGold share or GBP867 million in total, in December. SolGold confirms that it has not received any expressions of interest from any third parties regarding a possible offer since the start of the current offer period in late November. Notes that its top five shareholders, which hold a combined 47.3% stake, are supportive of the transaction.

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By Emma Curzon, Alliance News reporter

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