Ecuador-focused SolGold (LSE, TSX: SOLG) has applied to voluntarily delist its ordinary shares from the Toronto Stock Exchange on June 18 because the amount of trading doesn’t warrant the cost.
Originally founded in Australia and now headquartered in London, the miner is to stay on the LSE while it considers a secondary listing in Sydney, it said Monday. Dan Vujcic, CEO since March, called the ASX a “natural home” for the company’s copper and gold portfolio in an interview with sister publication Mining.com.
The TSX “accounted for less than 3% of the aggregate trading volume on both platforms,” SolGold said in a release. “As a result of these relatively low trading volumes on the TSX, the company believes that the financial costs and administrative requirements associated with maintaining its TSX listing are no longer justified.”
SolGold, backed by some of the biggest names in the industry including BHP (NYSE, LSE, ASX: BHP) and Newmont (NYSE: NEM), plans to accelerate development at its main Cascabel copper-gold project in northern Ecuador. It’s about to begin production as early as 2028, three to four years ahead of the previous timeline. The potential multi-generational asset may rank among the 20 largest copper-gold mines in South America.
The updated strategy would start with open-pit mining before moving underground.
Strategic overhaul
The accelerated plan is part of a broader realignment that includes the creation of a subsidiary to hold SolGold’s exploration assets. These are 89 licenses across more than 3,000 sq. km of copper-gold targets.
The move comes as the global copper market tightens, with demand rising due to the metal’s critical role in electrification and new discoveries becoming increasingly scarce.
SolGold expects the structural shift and accelerated development timeline will better position it with investors, especially amid rising geopolitical uncertainty and tariff-driven shifts in global supply chains.
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