10 Jan 2006

Solomons gold mine to register on London stock market

2:13 pm on 10 January 2006

The company which is to reopen the Gold Ridge mine in Solomon Islands is seeking admission to the London-based Alternative Investment Market next month.

The mine on Guadalcanal contributed more than 30 per cent of the country's GDP before it closed in 2000 because of the ethnic tensions.

Solomon Gold plans to start exploration drilling soon after admission to the AIM.

It's looking to raise funds to enable drilling for high-grade deposits of gold, copper and porphyry.

A drilling rig, helicopter and local and expatriate exploration staff have been engaged, and all are supported by an operations base in the capital Honiara.