Ge Long Hui·2025-12-29 00:34Core Viewpoint - Jiangxi Copper Co., Ltd. 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 will be executed through Jiangxi Copper's wholly-owned subsidiary, Jiangxi Copper Hong Kong Investment, and will be conducted in accordance with the provisions of the Companies Act [1]. - Upon completion of the acquisition, Jiangxi Copper Hong Kong Investment will hold all issued and to be issued shares of SolGold, making SolGold an indirect wholly-owned subsidiary of Jiangxi Copper [1]. Group 2: Background on SolGold - Jiangxi Copper has been a shareholder of SolGold since December 2022 and currently holds approximately 12.2% of SolGold's issued share capital after acquiring about 5.24% from SolGold Canada Inc. in March 2025 [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 the Imbabura province of 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 the potential for significant value creation [2]. - Jiangxi Copper believes it possesses the necessary technical expertise, engineering capabilities, supply chain resources, and financial strength to advance the development of the Cascabel project and unlock its future growth potential [2].