Ge Long Hui·2025-12-29 00:32Core Viewpoint - Jiangxi Copper's wholly-owned subsidiary, Jiang Copper Hong Kong Investment, has reached an agreement to acquire all issued and to be issued ordinary shares of SolGold for a total consideration of up to approximately £764 million, subject to shareholder approval and other conditions [1][2]. Group 1: Acquisition Details - The acquisition is structured as a cash purchase and will be conducted under the provisions of the Companies Act [1]. - Upon completion of the acquisition, Jiang Copper Hong Kong Investment will hold all issued and to be issued shares of SolGold, making it an indirect wholly-owned subsidiary of Jiangxi Copper [1]. Group 2: Background on SolGold - Jiang Copper Hong Kong Investment has been a shareholder of SolGold since December 2022 and currently holds approximately 12.2% of SolGold's issued share capital [2]. - SolGold, established in 2006, is one of the largest concession holders in Ecuador and is actively exploring the highly prospective Andean copper belt [2]. - The flagship project, Cascabel, located in northern Ecuador, is considered one of the world's most significant undeveloped porphyry copper-gold deposits and is expected to become a landmark mining project in South America [2]. Group 3: Strategic Rationale - The company is familiar with SolGold's flagship deposit at Cascabel and aligns with SolGold's management in recognizing its potential to create significant value [2]. - With its technical expertise, engineering capabilities, supply chain, and financial resources, the company believes it is well-positioned to undertake further work and invest necessary funds to advance the development of the Cascabel project and unlock its future growth potential [2].