Latest news for SolGold (OTC:SLGGF) Stock

SolGold PLC is a developer of an exploration company intended to explore gold and copper mining properties. The company's platform helps in the discovery, definition and development of world-class copper-gold deposits, enabling systematic and discipline exploration of both metals.

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SLGGF

SolGold secures $750 million funding for its Cascabel project in Ecuador from Franco-Nevada and Osisko, validating its potential as a world-class mine.

SolGold Secures $750M For Ambitious Mining Project In Ecuador

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Compass Minerals Agrees To Conservation Efforts; SolGold Signs $3.2B Declaration With Ecuador And More: Thursday&#39;s Top Mining Stories

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SolGold gets $3.2B investment for Cascabel copper-gold project in Ecuador, strengthening its position in the booming copper market.

Ecuador Joins The Copper Rush, Invests $3.2B In SolGold

SolGold PLC

Stephens &amp; Co. analyst Terry McEvoy maintains Nicolet Bankshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIC#NYSE">NIC</a>) with a Equal-Weight and raises the price target from $90 to $110.

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Stephens & Co. Maintains Equal-Weight on Nicolet Bankshares, Raises Price Target to $110

Lilium N.V.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LILM#NASDAQ">LILM</a>) shares are trading higher after it entered into a definitive sales agreement with Saudia Group or 50 Lilium Jets, with <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g39832573/saudia-group-signs-industry-leading-sales-agreement-with-lilium-to-acquire-up-to-100-evtol-jets" rel="noreferrer noopener">options for an additional 50 aircraft</a>.
Following the Memorandum of Understanding signed between Saudia Group and Lilium in October 2022, this sales agreement represents a significant milestone in the industry.
The deal marks the largest reported firm order of eVTOL aircraft in the MENA region by an airline committed to operating these aircraft.
The agreement details payment schedules, delivery timelines, performance guarantees, and provisions for spare parts and maintenance.
Additionally, the parties aim to finalize a &#8220;Lilium POWER-ON&#8221; agreement for fleet maintenance and support.
Saudia Group anticipates receiving its first jets in 2026, managed by its subsidiary, Saudia Private.
Lilium&#8217;s agreement with Saudia Group expands its order pipeline, comprising 106 firm orders and reservations, 76 options, and around 600 aircraft under MOU.
H.E. Engr. Ibrahim Al-Omar, Director General of Saudia Group,&nbsp;said,&nbsp;&#8220;This agreement amplifies our commitment to the Saudi Vision 2030 and is the result of a collaborative effort over the past years between Lilium and Saudia Group to explore how we can best bring eVTOL to the skies of Saudi Arabia.&#8221;
&#8220;Business travelers and exhibition attendees will benefit tremendously from the ease and speed of electric aircraft, allowing them to seamlessly attend and participate in events. These innovative vehicles will also be a game-changer for tourism, sports, and entertainment, offering a premium travel experience for these exciting destinations.&#8221;
Lilium is also in advanced discussions with global airlines committed to reducing carbon emissions and adopting electric regional air travel.
Yesterday, Lilium confirmed its 2026 delivery schedule for the first customer shipments, following a recent program review that includes testing, validation, and preparations for the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g39812459/lilium-reaffirms-2026-target-for-first-customer-deliveries-and-provides-additional-detail-on-testi" rel="noreferrer noopener">first manned flight in early 2025</a>.
Price Action: LILM shares are up 2.98% at $0.9999 premarket at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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LILM

Why Electric Aircraft Manufacturer Lilium Shares Are Surging Premarket Thursday

Piper Sandler analyst Mark Lear maintains APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) with a Neutral and raises the price target from $33 to $34.

Piper Sandler Maintains Neutral on APA, Raises Price Target to $34

JMP Securities analyst Silvan Tuerkcan maintains Relay Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RLAY#NASDAQ">RLAY</a>) with a Market Outperform and lowers the price target from $24 to $21.

RLAY

JMP Securities Maintains Market Outperform on Relay Therapeutics, Lowers Price Target to $21

WIIM

SAI.TECH Global shares are trading higher after the company's Board authorized a buyback of up to $1 million and up to 1 million shares.

Morgan Stanley analyst Alexandra Steiger maintains TJX Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) with a Overweight and raises the price target from $113 to $122.

Morgan Stanley Maintains Overweight on TJX Companies, Raises Price Target to $122

Reuters Reported OPEC+ Unlikely To Change Oil Output Policy At Aug 1 JMMC Meeting, Citing Sources

Cantor Fitzgerald analyst Troy Jensen initiates coverage on Impinj (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PI#NASDAQ">PI</a>) with a Overweight rating and announces Price Target of $205.

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Cantor Fitzgerald Initiates Coverage On Impinj with Overweight Rating, Announces Price Target of $205

Deutsche Bank analyst Krisztina Katai downgrades Five Below (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) from Buy to Hold and lowers the price target from $155 to $79.

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FIVE

Deutsche Bank Downgrades Five Below to Hold, Lowers Price Target to $79

Alliance Global Partners analyst Gaurav Mehta initiates coverage on UMH Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMH#NYSE">UMH</a>) with a Buy rating and announces Price Target of $21.

Alliance Global Partners Initiates Coverage On UMH Properties with Buy Rating, Announces Price Target of $21

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LUXH

LuxUrban Hotels Announced That The Underwriter Of Its Underwritten Public Offering Has Exercised Its Over-allotment Option In Full To Purchase An Additional 4.5M Shares At The Public Offering Price Of $0.17/Share

The Company plans to report the final analysis from the IGNITE clinical trial, including all patients at 12 months dosed with either 20 mg/kg or 40 mg/kg of iluzanebart in the first half of 2025. &nbsp;

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VIGL

Vigil Neuroscience Announced An Update Following A Type C Meeting With The FDA To Its Clinical Development Strategy For Its IGNITE Trial Of Iluzanebart For Adult-onset Leukoencephalopathy With Axonal Spheroids And Pigmented Glia

B of A Securities analyst Tomer Zilberman maintains Motorola Solns (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSI#NYSE">MSI</a>) with a Buy and raises the price target from $370 to $440.

B of A Securities Maintains Buy on Motorola Solns, Raises Price Target to $440

B of A Securities analyst Elizabeth Suzuki maintains Leslies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LESL#NASDAQ">LESL</a>) with a Buy and lowers the price target from $6.4 to $5.15.

LESL

B of A Securities Maintains Buy on Leslies, Lowers Price Target to $5.15

The energy storage solutions will be used for Root-Power&#39;s Coryton Energy Park project, in Corringham, Essex, England. Construction of the project started in late May 2024.

CSIQ

Canadian Solar Announced That e-STORAGE, Part Of The Company's Majority-owned Subsidiary CSI Solar, Has Received A Contract For 11 MW AC/22 MWh AC Energy Storage Solutions From Root-power, Part Of The Ylem Group

Wayfair Plans Four Days Of Exclusive Sales For Black Friday In July; Up To 80% Off All Things Home July 26-29

FTNT

Fortinet shares are trading higher after TD Cowen upgraded the stock from Hold to Buy.

B of A Securities analyst Heather Balsky maintains Equifax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) with a Buy and raises the price target from $255 to $286.

B of A Securities Maintains Buy on Equifax, Raises Price Target to $286

Sempra Infrastructure, A Subsidiary Of Sempra Announced Port Arthur LNG Phase 2 And Bechtel Energy Have Signed A Fixed-Price Engineering, Procurement And Construction Contract For The Port Arthur LNG Phase 2 Project Under Development In Port Arthur, Texas

BRKR

Bruker Posted Bond In Order To Suspend Injunction That Had Been Impacting Sales Of CosMx Spatial Molecular Imager Products By Its NanoString Business In Germany

Solgold (OTC) (GB:SOLG) has released an update. SolGold's CEO, Scott Caldwell, has expanded his stake in the company by purchasing 55,000 shares, w...

SolGold Executives Increase Investment in Company

Solgold (OTC) (GB:SOLG) has released an update. SolGold plc has reported promising financial developments, including ongoing discussions for a subs...

SolGold Advances with Strong Financing Prospects

Solgold (OTC) (GB:SOLG) has released an update. SolGold PLC has announced substantial financial progress with strong interest from capital provider...

SolGold Announces Major Financial Developments

Solgold (OTC) (GB:SOLG) has released an update. SolGold has announced positive third-quarter financial results, highlighted by the completion of an...

SolGold Reports Strong Quarter and Sustainability Focus

SolGold reports 9M results

SolGold (GB:SOLG) has released an update. SolGold announces the signing of the Exploitation Contract for its flagship Cascabel copper-gold project ...

SolGold Secures Landmark Mining Contract in Ecuador

SolGold announces exploitation contract for Cascabel project

SolGold (GB:SOLG) has released an update. SolGold PLC has announced progress in securing a major funding package for its Cascabel copper-gold proje...

SolGold Advances Cascabel Project Financing

SolGold (GB:SOLG) has released an update. SolGold has secured a major US$750 million financing package with Franco-Nevada and Osisko for its Cascab...

SolGold Clinches US$750M for Cascabel Project

Franco-Nevada, Osisko to provide $750M gold stream funding for SolGold's Cascabel

Legal

Press Releases

SolGold PLC Announces MOU for Sustainable Hydro-Solar Energy at Cascabel

SolGold PLC Announces Cascabel CIPA

SolGold PLC Announces Pre-Feasibility Study Technical Report

SolGold PLC Announces Blanca-Nieves Project Update

SolGold PLC Announces Director/PDMR Shareholding

SolGold PLC Announces Key Financial Developments

SolGold PLC Announces Third-Quarter Financial Report and Quarterly MD&A

SolGold PLC Announces Exploitation Contract for Cascabel Project

SolGold PLC Announces Financing Update

TSX:SOLG

SolGold

Exploration and development company SolGold (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SLGGF#OTC">SLGGF</a>) has successfully secured $750 million in funding for its Cascabel project in Ecuador. This funding came from a syndicated agreement with Franco-Nevada Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNV#NYSE">FNV</a>) and Osisko Bermuda, who will receive a portion <a href="https://www.benzinga.com/topic/gold">of the gold produced.</a>



"We are thrilled to finalize this transformative $750 million gold stream with Franco-Nevada and Osisko," <a href="https://polaris.brighterir.com/public/solgold/news/rns/story/rndkknx">stated</a> Scott Caldwell, President and CEO of SolGold.



"This agreement not only secures a significant portion of the capital required to fund the construction of Cascabel but also validates the vast potential of the Cascabel project," he said.



Now Read: <a href="https://www.benzinga.com/government/24/07/39751111/fed-rate-cut-expectations-boost-outlook-for-gold-mining-companies-shares">Fed Rate Cut Expectations Boost Outlook For Gold, Mining Companies</a>



Initially, $100 million will be released in three tranches, the first of which is expected shortly. These initial funds are designated for de-risking, permitting, completing a development funding package, and finalizing the feasibility study necessary for the final investment decision. The remaining $650 million will be allocated to the project&#8217;s construction, which will require a total of $1.55 billion.



The Cascabel project, particularly the Alpala deposit, is anticipated to become a world-class copper and gold mine. According to a 2024 pre-feasibility study, the project has an after-tax net present value of $32.2 billion and an after-tax internal rate of return of 24%. The project should have an initial production capacity of 12 million tons annually, eventually ramping up to 24 million tons annually. SolGold's management expects to start production between 2026 and 2028.



In exchange for the funding, the syndicate will receive a predetermined share of the gold produced at Cascabel:



<ul>
<li>20% of recovered gold in concentrate until 750,000 ounces are delivered.</li>



<li>12% of recovered gold in concentrate for the remaining life of the mine.</li>



<li>Ongoing production payments equivalent to 20% of the spot gold price for each ounce delivered.</li>
</ul>



"Cascabel represents one of the most significant copper and gold discoveries in recent history. The project has the potential to become a world-class multi-generational mine, demonstrated by the recent pre-feasibility study estimating at least a 28-year mine life with numerous avenues for additional mine life extensions," said Osisko Bermuda's president and CEO Jason Attew, clarifying that this investment enhances Osisko's long-term growth profile.



Ecuadorian mining remains relatively underdeveloped, with only two currently operating mines: Ecuacorriente&#8216;s Mirador copper mine and Lundin Mining&#8216;s Fruta del Norte gold mine. Alongside Silvercorp's <a href="https://www.benzinga.com/m-a/24/07/39672839/silvercorps-147m-acquisition-stalls-as-lawsuit-challenges-key-ecuadorian-project">pending acquisition and development</a> of the El Domo copper-gold project, Cascabel presents the potential to boost the country's mining output significantly.



Read Next:



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<li> <a href="https://www.benzinga.com/news/large-cap/24/07/39749321/bhp-halts-nickel-mine-were-not-able-to-overcome-economic-challenges-driven-by-oversupply">BHP Halts Nickel Mine: &#8216;We&#8217;re Not Able To Overcome Economic Challenges Driven By Oversupply&#8217;</a></li>
</ul>



Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!



Image created using artificial intelligence via Midjourney.

Top Stories for Mar. 7, 2024: 
1. Compass Minerals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMP#NYSE">CMP</a>) agreed to a term sheet with the Utah Division of Forestry, Fire and State Lands (FFSL) for water conservation efforts to support the Great Salt Lake&#39;s sustainability. Compass Minerals is currently developing a binding voluntary agreement <a href="https://www.benzinga.com/topic/mining">from this term sheet.</a>

The company&#39;s Ogden facility, with over 50 years of operation on the lake, produces sulfate of potash, salt and magnesium chloride, while employing nearly 400 locals.

Compass Minerals actively engages in policy and advisory groups for lake ecosystem health, and the FFSL manages Utah&#39;s sovereign lands, including navigable water bodies.

President and CEO Edward C. Dowling Jr. said, &ldquo;We recognize that a healthy Great Salt Lake is essential to both the environmental and economic well-being of the region...&nbsp;This agreement provides a framework where critical minerals can be extracted when the lake is at appropriate levels, and water is conserved as lake levels decline.&rdquo;

Compass Minerals also announced it will join Loop Capital Markets&#39; 5th Annual Investor Conference on March 11, 2024, with CFO Lorin Crenshaw attending virtually for one-on-one meetings during the day.

2. SolGold (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SLGGF#OTC">SLGGF</a>) signed a joint declaration with the Ecuadorian government, in preparation for a Complementary Investment Protection Agreement (IPA) for the Cascabel Project in Ecuador.

The declaration was signed in Toronto at the PDAC convention by SolGold&#39;s CEO Scott Caldwell and Ecuador&rsquo;s Minister of Production, Sonsoles Garc&iacute;a.

The agreement is set to be finalized in Ecuador and involves a commitment of $3.2 billion in addition to the existing $311 million investment under the current IPA, marking the largest mining investment in Ecuador&#39;s history.

CEO and President of SolGold Ecuador Scott Caldwell said, &ldquo;The Complementary Investment Protection Agreement not only reinforces the protections for our key investment in Ecuador but also symbolizes a deepening of our relationship with the Ecuadorian State. President Noboa&rsquo;s attendance and insightful speech at the PDAC convention were warmly welcomed by the mining community and underscore the significant support of his administration for responsible mining in Ecuador.&rdquo;

Major companies including BHP Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>), Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) and Jiangxi Copper, hold stakes in SolGold.

BHP and Newmont collectively own around 20%, while Jianxi holds around 6%.

3. The Senior Vice President of Reliance Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) Arthur Ajemyan made an insider sale of 3,000 shares on March 6, totaling $968,850.

Now Read: <a href="https://www.benzinga.com/news/large-cap/24/03/37547023/gold-shines-brighter-than-ai-driven-semiconductor-stocks-7-mining-stocks-to-watch-with-prices-at-r">Gold Shines Brighter Than AI-Driven Semiconductor Stocks: 7 Mining Stocks To Watch With Prices At Record Highs</a>

Photo: Shutterstock

Compass Minerals Agrees To Conservation Efforts; SolGold Signs $3.2B Declaration With Ecuador And More: Thursday's Top Mining Stories

Ecuador-focused mining company SolGold (OTCPK: SLGGF) surged 23% following the announcement of a $3.2 billion investment from the Ecuadorian government in its flagship Cascabel copper-gold project. This investment, marking a historic milestone for Ecuador&#8217;s mining sector, reflects the country&#8217;s strategic move to capitalize on the burgeoning copper market amid looming supply constraints and forecasted shortages of <a href="http://benzinga.com/markets/commodities/23/12/36259547/copper-shortage-first-quantums-cobre-panama-mine-shuts-down-threatening-supply-balance">this critical metal.</a>



SolGold's CEO Scot Caldwell expressed enthusiasm about the groundbreaking deal, <a href="https://polaris.brighterir.com/public/solgold/news/rns/story/rn440px">stating</a> that this deal &#8220;not only reinforces the protections for our key investment in Ecuador but also symbolizes a deepening of our relationship with the Ecuadorian State.&#8221;



The investment is separate from the government&#8217;s prior commitment of $311 million for the Cascabel project. The project boasts indicated resources of 2.050 billion tons, including 8.4 million tons of copper and 19.4 million ounces of gold. Inferred resources include 900 million tons, 2.5 million tons of copper, and 3.8 million ounces of gold.



Now read: <a href="https://www.benzinga.com/news/24/03/37526937/you-buy-gold-and-hope-it-doesnt-go-up-surge-in-gold-prices-sparks-investor-debate-on-long-term-value">&#8216;You Buy Gold And Hope It Doesn&#8217;t Go Up&#8217;: Surge In Gold Prices Sparks Investor Debate On Long-Term Value</a>



SolGold&#8217;s recent pre-feasibility <a href="https://polaris.brighterir.com/public/solgold/news/rns/story/xze09lx">study</a> for Cascabel revealed a significant reduction in upfront costs. Initial mine development, the first process plant module, and infrastructure are estimated to cost $1.55 billion, down from $2.75 billion in the previous study. The indicated resources at Cascabel make it a potential multi-generational asset and one of the 20 largest copper-gold mines in South America. Construction is scheduled to commence in 2025.



SolGold also <a href="https://polaris.brighterir.com/public/solgold/news/rns/story/w0j96px">signed</a> a memorandum of understanding (MoU) for the project&#8217;s potential 200 MW hydroelectric and solar power supply. Per Caldwell's words, this initiative could position Cascabel as one of the world&#8217;s largest copper-gold mines with a carbon-neutral footprint. The MoU involves partnerships with Grupo Empresarial Semaica, Constructora Nacional S, and Enerhydra, outlining plans for a power purchase agreement, financing, construction, and operation.



While SolGold&#8217;s share price has faced challenges over the past year, the recent developments, including the significant government investment and commitment to renewable energy, have injected optimism into the company&#8217;s outlook. Yet despite the recent surge, the stock is still down 25% year-to-date.



Major industry players, including BHP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>), Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), and Jiangxi Copper (OTCPK: JIAXF), hold significant stakes in SolGold. BHP and Newmont collectively own around 20%, while Jianxi holds around 6%. Prospective copper investors might want to check the newly launched Sprott Copper Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COPP#NASDAQ">COPP</a>).



Also read: <a href="https://www.benzinga.com/markets/commodities/24/03/37466646/zambia-plans-to-increase-copper-production-but-faces-3-problems">Zambia Plans To Increase Copper Production But Faces 3 Problems</a>



Photo: Shutterstock

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