SP Angel20 Dec 2018 20:05
*SP Angel acts as broker and advisor to Solgold. SP Angel have raised funds for SolGold on eight previous occasions.'
Solgold* (LON:SOLG) 37p, Mkt Cap £682m – SolGold option award
AGM statement passes all resolutions and sees retirement of John Bovard as a director of the company though explanation is given.
The board of SolGold have also awarded 11.4m new options to the directors.
The strike price of 60p/s is somewhat higher than the current price indicating a reasonably positive view by management.
The company will have a total of 1,846,321,033 fully-paid ordinary shares, 21,250,000 share options exercisable at 40p and 141,262,000 share options exercisable at 60p following the issue.
The company is supported by Newcrest which recently increased its holding to 15.23% and has put some US$62.8m directly into the company, principally for drilling at Alpala, Cascabel
BHP have also invested US$45m into SolGold and has amassed a stake of 11.2% in the company.
While this is small beer for BHP it is an interesting move in that it stakes a claim in what is possibly the world’s largest copper discovery in recent years and what could become a massive underground, block-cave, mining operation.
We await further news on the economics of the pre-feasibility study which is being worked on and on the multi-billion capital cost estimates and forecast operating costs for this huge project.
The following video links show SolGold executives discussing their work on the Alpala project and surrounding exploration: https://twitter.com/SolGold_plc?lang=en, http://www.solgold.com.au/videos/
*SP Angel acts as broker and advisor to Solgold. SP Angel have raised funds for SolGold on eight previous occasions.
https://www.proactiveinvestors.co.uk/columns/sp-angel/30422/today-s-market-view---fed-rate-rise-hits-miners-despite-indication-of-less-rate-hikes-next-year-30422.html
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