REG - SolGold PLC - Annual Financial Report

SolGoldAnnouncement

25/09/2025 07:02

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RNS Number : 7925A  SolGold PLC  25 September 2025

25 September 2025

 

SolGold plc

("SolGold" or the "Company")

Delivers Transformational Progress in 2025 &

Builds Momentum into 2026

 

The Board of Directors of SolGold (LSE: SOLG) is pleased to report a year of
transformational progress, highlighted by a US$750 million stream financing,
the acceleration of the Cascabel Feasibility Study, the completion of the
Project Execution Plan, and the establishment of the ExploreCo strategy. Since
year-end, the Company has drawn the second tranche of stream funding and
advanced early works planning, rapidly building on the foundation established
in the previous fiscal year.

The Company ended fiscal 2025 with a cash balance of US$11.8 million, and has
since strengthened its position with a further US$33.3 million drawdown under
the Franco-Nevada (Barbados) Corporation and OR Royalties International
Ltd. (formerly Osisko Bermuda Limited) stream agreement ("Stream
Agreement").(1)

The Annual Report and Accounts for the year ended 30 June 2025 are available
on the Company's website at www.solgold.com (http://www.solgold.com) .

2025 Highlights

·      US$750 million Stream Financing: Closed Stream Agreement,
securing pre-construction and partial construction funding (subject to
conditions) while preserving all copper and silver, and a large majority of
gold upside.(1)

·      Cascabel Development: G Mining Services advanced the Feasibility
Study, Early Works and Project Execution Plan, prioritising early open-pit
production at Tandayama-América to accelerate first cash flow and de-risking
the pathway to near-term cash flow and Alpala's long-life underground mine.(2)

·      ExploreCo Strategy: Announced the strategy to launch a separate
exploration entity to unlock hidden value from SolGold's regional concessions;
considered some of the most prospective properties globally, anchored by
Porvenir.(3)

·      Porvenir Licence Secured: Environmental licence approved,
enabling advanced technical studies, additional drilling, and a Preliminary
Economic Assessment.(4)

·      Strategic Investment: Jiangxi Copper increased its stake to 12.2%
with a US$18.1m investment at a 45% premium.(5)

·      Leadership Reset: Reset Board and Management with the
appointments of CEO Dan Vujcic, Non-Executive Chairman Paul Smith, and Senior
Independent Director Charles Joseland to drive the transition from explorer to
developer.(3, 6)

Comment from the Chief Executive Officer, Dan Vujcic:

"2025 reshaped SolGold. We secured transformational financing, accelerated
development at Cascabel, and formulated the pathway for ExploreCo. Since
year-end, we've drawn an additional US$33 million under the stream and
advanced early works forward, underscoring the pace of progress and delivery.
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."

Building on Momentum: FY2026 Initiatives

·    Break ground at Cascabel for the portal and declines in 2025.

·    Advance permitting and early works to align with construction
readiness.

·    Complete the Cascabel Feasibility Study by mid-2026, paving the way
for construction.

·    Secure remaining project financing and progress further stream
drawdowns to fund development.

·    Position ExploreCo for a potential market debut to unlock exploration
value for shareholders.

 CONTACTS

 Dan Vujcic

 Chief Executive Officer   Tel: +44 (0) 20 3807 6996

ENDNOTES:

1.     15 July 2024: SolGold plc Announces US$750 Million Financing
Package for the Cascabel Project (Stream News Release
(https://polaris.brighterir.com/public/solgold/news/rns/story/rndkknx) )

2.     17 July 2025: SolGold plc Releases Execution Plan (News Release
(https://polaris.brighterir.com/public/solgold/news/rns/story/wk42j1r) )

3.     4 March 2025: SolGold plc Announces Appointment of a new CEO and
Independent Chairman, Re-Setting the Company Strategy and Governance,
including Formation of ExploreCo and Technical Committee (News Release
(https://polaris.brighterir.com/public/solgold/news/rns/story/rm8238w) )

4.     12 May 2025: Environmental Licence Granted for Advanced Exploration
Phase at Porvenir Project (News Release
(https://polaris.brighterir.com/public/solgold/news/rns/story/rde313w) )

5.     12 March 2025: SolGold plc Announces Further Investment from
Jiangxi Copper (News Release
(https://polaris.brighterir.com/public/solgold/news/rns/story/x8329jr) )

6.     14 March 2025: SolGold plc Announces Appointment of Senior
Independent Non-Executive Director (News Release
(https://polaris.brighterir.com/public/solgold/news/rns/story/x83nopr) )

ABOUT SOLGOLD

SolGold is a leading resources company focused on the discovery, definition,
and development of world-class copper and gold deposits, and continues to
strive to deliver objectives efficiently in the interests of its shareholders.

The Company operates with transparency and in accordance with international
best practices. SolGold is committed to delivering value to its shareholders
while simultaneously providing economic and social benefits to impacted
communities, fostering a healthy and safe workplace, and minimizing
environmental impact.

SolGold is listed on the London Stock Exchange (LSE: SOLG).

See www.solgold.com (http://www.solgold.com) for more information. Follow us
on X @SolGold_plc.

 

CAUTIONARY NOTICE

News releases, presentations and public commentary made by SolGold plc (the
"Company") and its Officers may contain certain statements and expressions of
belief, expectation or opinion which are forward looking statements, and which
relate, inter alia, to interpretations of exploration results to date and the
Company's proposed strategy, plans and objectives or to the expectations or
intentions of the Company's Directors, including the plan for developing the
Project currently being studied as well as the expectations of the Company as
to the forward price of copper. Such forward-looking and interpretative
statements involve known and unknown risks, uncertainties, and other important
factors beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially different from
such interpretations and forward-looking statements.

Accordingly, the reader should not rely on any interpretations or
forward-looking statements, and save as required by the exchange rules of the
TSX and LSE or by applicable laws, the Company does not accept any obligation
to disseminate any updates or revisions to such interpretations or
forward-looking statements. The Company may reinterpret results to date as the
status of its assets and projects changes with time, expenditure, metals
prices, and other affecting circumstances.

This release may contain "forward-looking information". Forward-looking
information includes, but is not limited to, statements regarding the
Company's plans for developing its properties. Generally, forward looking
information can be identified by the use of forward-looking terminology such
as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or state
that certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved".

Forward looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially
different from those expressed or implied by such forward looking information,
including but not limited to: transaction risks; general business, economic,
competitive, political and social uncertainties; future prices of mineral
prices; accidents, labour disputes and shortages and other risks of the mining
industry. Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended.  There can be no assurance that
such information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements.
Factors that could cause actual results to differ materially from such
forward-looking information include, but are not limited to, risks relating to
the ability of exploration activities (including assay results) to accurately
predict mineralization; errors in management's geological modelling and/or
mine development plan; capital and operating costs varying significantly from
estimates; the preliminary nature of visual assessments; delays in obtaining
or failures to obtain required governmental, environmental or other required
approvals; uncertainties relating to the availability and costs of financing
needed in the future; changes in equity markets; inflation; the global
economic climate; fluctuations in commodity prices; the ability of the Company
to complete further exploration activities, including drilling; delays in the
development of projects; environmental risks; community and non-governmental
actions; other risks involved in the mineral exploration and development
industry; the ability of the Company to retain its key management employees
and skilled and experienced personnel; and those risks set out in the
Company's public documents filed on SEDAR+ at www.sedarplus.ca. Accordingly,
readers should not place undue reliance on forward-looking information. The
Company does not undertake to update any forward-looking information, except
in accordance with applicable securities laws.

The Company and its officers do not endorse, or reject or otherwise comment on
the conclusions, interpretations or views expressed in press articles or
third-party analysis.

 

 

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