Transformational deal as Newcrest puts a further $40m into SolGold at significant premium

Ecuador-focused explorer SolGold has announced the placement of $41-million worth of new shares at 41p apiece – a significant premium to the company’s Aim-listed price on Friday morning – with Australian major Newcrest Mining investing another $40-million into the junior, and a further $1.23-million of shares being placed with Ecuadorian investors. Newcrest first invested $23-million into SolGold at 16p a share on October 17, 2016, to fund further drilling on the Brisbane, Australia-based SolGold’s flagship Cascabel project, and supporting the company’s pan-Ecuadorian copper/gold porphyry exploration strategy.