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SolGold PLC - Brisbane, Australia-based developer of copper-gold deposits in Ecuador - Completes $50 million royalty financing with Osisko Gold Royalties Ltd regarding to the Cascabel copper-gold project in northern Ecuador. Under the agreement, metal royalty company Osisko will receive a 0.6% net smelter royalty interest from the Cascabel licence area. SolGold entered the deal in early November.
Interim Chief Executive Officer Scott Caldwell says: ‘I would like to sincerely thank Osisko for their unwavering endorsement of SolGold and the Cascabel project. World class deposits need many world class partners in order to achieve their maximum potential, and we are pleased to add Osisko to our list of supporters. This financing provides the company with greater optionality going forward and is an overwhelmingly positive development for all our stakeholders.’
Current stock price: 18.34 pence, up 1.9% on Thursday morning in London
12-month change: down 24%
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