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 is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.