LONDON--Gold exploration company SolGold PLC (SOLG.LN) Thursday
said Newmont Ventures Limited will cease funding the Guadalcanal
Joint Venture (GJV) in the Solomon Islands.
MAIN FACTS:
-Newmont Ventures, which is also resigning as manager of GJV, is
a unit of Newmont Mining Corporation (NEM).
-In discussions with Newmont Ventures regarding the exploration
tenements which comprise the GJV.
-GJV comprises 5 Prospecting Licenses on the island of
Guadalcanal, Solomon Islands.
-NVL has earned a 70% interest in the GJV under the terms of the
JV agreement having expended 19 million dollars to date since the
Joint Venture commenced in April 2009.
-Shares of SolGold at 0736 GMT down 1 pence, or 7.7%, at 4
pence.
-Write to Tapan Panchal at tapan.panchal@dowjones.com
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