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 bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.