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Additional Information
Market: AIM
Sector: General Mining - Gold
EPIC: SOLG
Latest Price: 10.38p  (-2.35% Descending)
52-week High: 34.50p
52-week Low: 7.38p
Market Cap: 29.54M
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Solomon Gold
www.solomongold.com

Solomon Gold holds several tenement positions in the Solomon Islands, for minerals exploration, focusing on copper and gold rich porphyry systems and high grade epithermal gold mineralisation. In relation to its main tenement holdings on the island of Guadalcanal, the Company enjoys a Joint Venture with Newmont Ventures providing for Newmont to earn a 70% interest by expending US$12m over 5 years. Solomon Gold is the current manager. On 2 December 2009, the Company announced the acquisition of two Queensland (Australia) based gold exploration companies, Acapulco Mining Pty Ltd and Central Minerals Pty Ltd.

Full Solomon Gold profile here
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Solomon Gold CEO Mather’s stake reduced to 15.9% from 19.1% after scrip-based acquisitions

25th Feb 2010, 12:18 pm Solomon Gold CEO Mather’s stake reduced to 15.9% from 19.1% after scrip-based acquisitions

Solomon Gold (AIM: SOLG) said that following the completion of the scrip-based acquisitions of Acapulco Mining and Central Minerals and relevant allotments, chief executive Nicholas Mather has a 15.9% stake in the company compared to the 19.1% shareholding he had before the acquisition.

Mather, who held a 20.03% stake in Acapulco, held 20.28 million shares and was allotted another 10.48 million to take his shareholding to 30.76 million shares representing 15.9% of the enlarged capital. Solomon Gold paid 49.6 million shares for Acapulco and 37.2 million shares for Central Minerals.

Mather also has a 14.5% interest in D’Aguilar Gold Limited (ASX: DGR), which has a 17.1% stake in Solomon Gold. D’Aguilar owned 79% of Central Minerals.

The directors of the Solomon Gold now hold a total 17.2% stake in the enlarged company compared to the 21.3% stake they held prior to the acquisitions.

The company acquired Acapulco Mining Pty Ltd with its gold projects over the Mt Perry Goldfield in Queensland and Central Minerals Pty Ltd with its gold projects over a newly defined 200 kilometre Carlin style trend on the eastern margin of the southern Bowen Basin in central Queensland, including the Rannes property.

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