Sou Hu Cai Jing·2026-02-24 02:19Core Viewpoint - Jiangxi Copper is set to acquire SolGold plc, with a court ruling scheduled for March 2, 2026, to finalize the acquisition process [1]. Group 1: Acquisition Details - Jiangxi Copper announced a formal offer to acquire all issued and to be issued shares of SolGold at a price of 28 pence per share, excluding shares already held by the company [1]. - The acquisition proposal was approved by the SolGold shareholders during a meeting held on February 23, 2026, and is pending court approval [1]. - The acquisition is valued at approximately £867 million based on the formal offer price [4]. Group 2: SolGold Overview - SolGold is an exploration and development company based in Perth, Australia, with its core asset being the 100% ownership of the Cascabel project in Ecuador [2]. - The Cascabel project contains proven, controlled, and inferred resources of 12.2 million tons of copper, 30.5 million ounces of gold, and 102 million ounces of silver [2]. - The project has completed a pre-feasibility study, but SolGold reported zero revenue and net losses for the fiscal years 2024 and 2025 [2]. Group 3: Previous Offers and Board Response - Prior to the formal offer, Jiangxi Copper made two non-binding cash offers to SolGold's board, both of which were rejected [3]. - The latest non-binding offer was made at a price of 26 pence per share [3]. - The board of SolGold has deemed the terms of the current acquisition proposal as fair and reasonable, recommending shareholders to support the acquisition [5]. Group 4: Jiangxi Copper Financial Performance - Jiangxi Copper reported a revenue of 396.047 billion yuan for the first three quarters of the previous year, reflecting a year-on-year increase of 0.98% [5]. - The net profit for the same period was 6.023 billion yuan, up 20.85% year-on-year [5]. - The company has diversified operations in various minerals, including copper, gold, silver, lead, zinc, tungsten, rhenium, and tellurium, along with supporting services [5].