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Additional Information
Market: AIM
Sector: General Mining - Gold
EPIC: SOLG
Latest Price: 10.00p  (-4.76% Descending)
52-week High: 34.50p
52-week Low: 7.38p
Market Cap: 28.46M
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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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Fairfax expects steady newsflow from Solomon Gold after reorganisation and refocusing

10th Mar 2010, 2:31 pm Fairfax expects steady newsflow from Solomon Gold after reorganisation and refocusing

In an analyst note on Solomon Gold (AIM: SOLG), London-based stockbroker Fairfax said it is looking forward to steady news flow throughout the next six to twelve months, following the company’s reorganisation and refocusing.  The broker anticipates further growth through the realisation of the value created by the changes of the last year.

Fairfax noted that twelve months ago, Solomon was a junior company focused on the difficult and expensive business of exploring for giant copper-gold porphyry deposits in very challenging terrain. At present, the company was focused on only one project in the Solomon Islands. 

In a 12-month transitional period, Solomon has made major changes to its board of directors, diversified its exploration areas, and signed a JV agreement with Newmont Mining (NYSE: NEM) worth US$12m over 6 years, the broker said.

Now the company has the financial and technical backing of a major gold miner over the Guadalcanal projects in the Solomon Islands, and has acquired assets in Queensland that have been significantly de-risked already through previous drilling and mining, Fairfax said.

At the end of last year, Solomon agreed to acquir Acapulco Mining Pty Ltd with its gold projects over the Mt Perry Goldfield in Queensland and Central Minerals Pty Ltd with its gold projects in central Queensland.

According to the broker, the Solomon board has an increased capability to bring these new assets into production quickly.

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