CAPITAL MARKETS

Mather sells SolGold shares for philanthropic reasons

Trust fund sold shares for charitable donations

Staff reporter
SolGold CEO Nick Mather

SolGold CEO Nick Mather

Mather is a director of The Mather Foundation, a philanthropic auxiliary foundation trust fund that sold SolGold shares this week at 21.25p each for £180,625 (US$237,279).

"The sale was finalised to address obligated philanthropic and charitable donations to prostate cancer research, mental health and homelessness organisations and emergency flight care services in Australia," the company said.

Due to the end of financial year, it said the Mather Foundation was required to monetise assets each year and make cash donations to third-party charitable organisations.

"The sale is in no way an indication of a diminished outlook in respect of the value of SolGold or its growth outlook in the future," Mather said.

The company said the sale represented less than 1% of the total shareholdings associated with Mather in SolGold.

Mather holds around 6.6% of SolGold. He also holds around 8% of DGR Global, SolGold's second-largest shareholder with 12.2% of the company.

SolGold last month had 12 rigs drilling at its 85%-owned Cascabel copper-gold project in Ecuador where it is aiming to produce a resource update.

The company also has exploration underway at its fully-owned 73 other concessions in Ecuador.

SolGold is capitalised at around £370.2 million in London.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.