Today, $JIANGXI COPPER (00358.HK)$ The stock opened nearly 10% higher. As of press time, it surged 11.44% to HKD 41.5, with a turnover of HKD 342 million.
In terms of announcements, Jiangxi Copper Company Limited declared that its wholly-owned subsidiary, JCC Hong Kong Investments, would acquire all issued and to-be-issued ordinary shares of SolGold plc in an all-cash transaction. Based on the total number of SolGold shares issued as of the announcement date and granted stock options (excluding SolGold shares already held by JCC Hong Kong Investments), the maximum total consideration payable by JCC Hong Kong Investments under the acquisition is not expected to exceed GBP 764 million. Completion of the acquisition remains subject to approval by SolGold shareholders and fulfillment or waiver of other conditions.
Public information indicates that the company has been a shareholder of SolGold since November 2020 and is currently the largest single shareholder, holding approximately 12.2% of SolGold's issued share capital. SolGold's shares are publicly traded on the main board of the London Stock Exchange. SolGold’s flagship project, Cascabel, located in Imbabura Province in northern Ecuador, is one of the world’s most significant undeveloped porphyry copper-gold deposits and is expected to become a landmark mining project in South America.
Editor/KOKO