SolGold PLC on Friday reported a widened quarterly loss and said its head of Ecuador has resigned with immediate effect.

For the quarter that ended on March 31, SolGold’s loss widened to $9.2 million from $5.1 million in the previous year, with no revenue reported during the period.

Brisbane, Australia-based developer of copper-gold deposits in Ecuador said its focus during the year ending 30 June 2022 will be to advance the Cascabel project in Ecuador.

SolGold has identified several high priority copper and gold resource targets, some of which the company believes have the potential to reach resource definition and feasibility levels in close succession.

Separately, SolGold announced executive director Jason Ward has resigned today with immediate effect.

SolGold shares were up 3.5% at 26.65 pence each on Friday afternoon in London.

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