SolGold names new CEO and chair as it resets strategy

(Alliance News) - SolGold PLC on Tuesday named its new chief executive officer and chair as it set out plans to reset its strategy.

The Ecuador-focused exploration company said Dan Vujcic would be its new chief executive officer, replacing Scott Caldwell who will become a non-executive director.

Vujcic was most recently chief development officer of MAC Copper Ltd, including a stint as interim chief financial officer.

The company named Paul Smith as its new non-executive chair. Smith was previously head of strategy at Glencore PLC.

SolGold said it is resetting its strategy to accelerate the Cascabel project into the development phase.

It said a technical committee will be established to oversee the development project, and ensure progress on the permitting and definitive feasibility study timetable.

The company said it will also form an exploration subsidiary to hold its exploration licences. A definitive plan will be set out in the second quarter.

New Chief Executive Officer Dan Vujcic said: "Cascabel is a tier one development project with tier one financiers in Franco Nevada and Osisko Gold Royalties. The opportunity is immense for all stakeholders, especially the country of Ecuador, which has already seen mining success with the Lundin Gold's Fruta del Norte Project and ECSA's Mirador project.

"I am excited to be tasked with moving SolGold forward into the development phase, to start unlocking the significant value in its current portfolio and to explore the merits of listing on the Australian Stock Exchange, a natural home for a copper and gold portfolio of this quality. Opportunities like this are scarce, demand for our commodities is robust, and I look forward to engaging regularly with all our shareholders and stakeholders as we undertake this growth."

Shares in SolGold closed flat at 6.21 pence in London on Tuesday.

By Michael Hennessey, Alliance News reporter

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