Solidcore Resources
Primary ticker: AIX:CORE
Stage of development: Exploration, Development, Production
Primary minerals: Gold, Copper, Tin
Project to promote: Ertis POX
Project location: Kazakhstan
Website: www.solidcore-resources.com
Solidcore Resources is a leading gold producer based in Kazakhstan and listed on Astana International Exchange. Solidcore has a portfolio of two producing gold mines and an impressive growth project.
Cash: USD 761M
Debt: USD 404M
Major shareholders:
Maaden International Investment SPC – 29.7%
Individual investors and shareholders (Free Float) – 69.6%
Management ownership – 0.7%
Financials
Updated on 10/01/2025
Price: $3.14
Share Outstanding: $474M
Market Capital: $1.5B
Year High: $4.9
Year Low: $2.46
Management Profile
Evgenia Onuschenko, CFO
Evgenia Onuschenko (CFO) joined Solidcore in 2008 as the Head of the Bank Financing department and later served as the Head of Corporate Finance and Investor Relations. Her most recent role in the Company – Executive Vice President for Corporate Finance. Prior to joining the Company, she held several roles at Ernst & Young in transaction advisory services.
Evgeny Monakhov, Head of M&A
Evgeny Monakhov (Head of M&A) joined Solidcore in 2019. He is a veteran of the investment banking industry, having successfully led and managed equity sales teams and equity franchises at Credit Suisse, Deutsche Bank and Gazprombank in London and Moscow.
What is your rationale for taking part in 121 Mining Investment?
To meet with global peers, junior ventures representatives. Market Solidcore’s new strategy and growth projects
What recent news would you like to highlight to investors attending?
5 December 2024 – Ertis POX construction approval
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Maintain stable operations, conduct near mine explorations, conduct feasibility study at Syrymbet tin mine, progress with the Ertis POX construction
6 Months:
Maintain stable operations, conduct near mine explorations, conduct feasibility study at Syrymbet tin mine, progress with the Ertis POX construction
12 Months:
Maintain stable operations, conduct near mine explorations, conduct feasibility study at Syrymbet tin mine, progress with the Ertis POX construction
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Current focus on a single geography (Kazakhstan) and gold. We are looking to diversify our portfolio of assets by acquiring projects in other Central Asian counties, primarily focusing on base metals.
What do you think makes your company such a compelling investment?
Return on investment in the precious metals industry is driven by grades and mining conditions. We achieve better returns and lower risks from our project portfolio by setting appropriate thresholds on head grades and, where possible, opting for open-pit mines
What are the top 3 key investor takeaways?
Strategic Resource Portfolio,
Experienced Leadership Team,
Commitment to Sustainability.