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Solgold PLC on Thursday said its loss narrowed in financial 2025, as it shared plans to advance a potential secondary listing in Australia. The London-listed gold and copper mining firm posted a pretax loss of $53.8 million for the year that ended June 30, narrowed from $62.3 million a year prior. Solgold’s operating loss narrowed to $14.4 million from $20.8 million. On a per share basis, the loss narrowed to 1.2 US cents from 2.0 cents on-year. The firm held $11.8 million in cash at June 30, compared with $6.0 million on-year, and since the year-end, has drawn down $33.3 million in stream funding. Back in July, Solgold entered a syndicated gold stream agreement with Franco-Nevada (Barbados) Corp and OR Royalties International Ltd, formerly Osisko Bermuda Ltd. This will be used in part to fund construction at its 100%-owned Cascabel project. ‘With Cascabel ranked among the world’s largest undeveloped copper-gold projects and positioned in the bottom quartile of costs, SolGold is uniquely placed to deliver a tier one asset at a time when global demand for copper is surging. This progress is good for our shareholders, good for Ecuador, and vital for the responsible supply of copper the world needs,’ commented Chief Executive Dan Vujcic. Solgold aims to break ground at Cascabel in 2025 and complete a feasibility study by mid-2026, which will enable construction to proceed. In addition to pursuing further funding, the firm is eyeing the possibility of launching a stand-alone vehicle called ExploreCo on the public market. ExploreCo would benefit from regional concessions such as Porvenir, for which Solgold secured an environmental licence in May. The company is also considering a potential secondary listing on the Australian Stock Exchange. Though it is London-listed, Solgold’s corporate headquarters are in Brisbane, Australia. It exited the Toronto Stock Exchange in June, saying that trading in Canada had accounted for less than 3% of the aggregate volume between 2017 and 2025. At the end of August, Solgold changed its domicile to Switzerland. As part of the move, a 15% stake in Cascabel which the firm acquired in 2023, and which was held historically by SolGold Canada Inc, was consolidated under Swiss subsidiary SolGold Finance AG. Solgold shares were 1.3% lower at 15.10 pence on Thursday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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