Newcrest increases stake in SolGold to 14.54%

Company News

by Jessica Amir

Newcrest Mining Limited (ASX:NCM) has invested a further US$40 million in London AIM-listed company, SolGold.

The gold miner invested the funds by taking advantage of SolGold’s US$41.2 million capital raising.

The transaction takes Newcrest’s holding in the gold and copper miner to 14.54 per cent.

SolGold’s principal asset is an 85 per cent interest in the Cascabel project in Ecuador, which is in exploration phase.

Newcrest says it increased its interest in the region, so that SolGold could continue to ramp up its drilling as the Cascabel project appears to be prospective.

Shares in Newcrest Mining Limited (ASX:NCM) are trading 0.85 per cent higher at $21.46.
 

Jessica Amir

Finance News Network
Jessica presents the Market Outlook and company news. She joined FNN in January 2017. She has been in broadcast journalism for over five years. She has worked as a journalist with Sky News Business, ABC 1 and ABC24. She has also worked in regional Australia for Prime 7 and WIN News. She is also a qualified financial planner and a Masters of Applied Finance student.