JCCL(SH:600362) Shang Hai Zheng Quan Bao·2025-12-01 05:00Core Viewpoint - Jiangxi Copper has submitted two non-binding cash offers to acquire all shares of SolGold Plc at a price of 26 pence per share, with the latest offer submitted on November 28, 2025 [2][12]. Group 1: Acquisition Details - Jiangxi Copper's subsidiary, Jiangxi Copper (Hong Kong) Investment Co., Ltd., previously acquired 157 million shares of SolGold, representing 5.24% of its issued shares, for a total consideration of approximately $18.07 million [11]. - Following this transaction, Jiangxi Copper became the largest single shareholder of SolGold, holding a total of 366 million shares, or 12.19% of the issued shares [11]. - The acquisition aligns with Jiangxi Copper's strategic development goals and aims to enhance its industry position through collaboration with SolGold [11]. Group 2: SolGold Overview - SolGold is a mineral exploration and development company based in the UK, with its core asset being a 100% stake in the Cascabel project located in Ecuador [5]. - The Cascabel project has significant proven, controlled, and inferred resources, including 12.2 million tons of copper and 30.5 million ounces of gold [7]. Group 3: Offer Status and Future Steps - The two non-binding cash offers have been rejected by SolGold's board, and it remains uncertain whether Jiangxi Copper will make a formal offer [14][13]. - Jiangxi Copper retains the right to propose other forms of consideration or different combinations of consideration under the UK Takeover Code [14]. - A definitive formal offer must be announced by Jiangxi Copper by December 26, 2025, or a clear announcement to abandon the acquisition must be made [15]. Group 4: Financial Performance - In the first three quarters of the year, Jiangxi Copper reported revenue of 396.05 billion yuan, a year-on-year increase of 0.98%, and a net profit of 6.02 billion yuan, reflecting a 20.85% increase [15].