SolGold PLC - Brisbane, Australia-based developer of copper-gold deposits in Ecuador - Says Jiangxi Copper Investment Company Ltd and other investors have agreed to buy 180 million shares at USD0.20 cents per share. Specifically, Jiangxi, a China-based firm that principally engages in the mining, smelting and processing of copper, will buy 155 million of shares. Jiangxi will have a 6.3% ‎stake in SolGold. Says all the shares are expected to raise USD36.0 million from the investors.
Chief Executive Officer Scott Caldwell says: "I am very pleased to have Jiangxi become an investor in SolGold. They are a highly accomplished mining company and more importantly, 100% aligned with SolGold in ensuring all stakeholders are treated respectfully and fairly."
Current stock price: 16.42 pence, down 4.1% on Wednesday in London
12-month change: down 29%
By Xindi Wei; xindiwei@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
SolGold (SOLG)