Commenting on the Agreement with BHP, SolGold CEO Mr Nick Mather said: "SolGold is pleased to have entered this agreement with BHP. We believe that the Alpala project is one of the five best undeveloped copper projects in the world. SolGold is intent on taking an aggressive path to the development of this exciting project and BHP’s investment is welcome. The strong premium paid and the US$59.2m in funds raised means we can get on with the task of getting to feasibility. SolGold believes that the terms of BHP's investment are favourable to SolGold in the context and will allow SolGold to continue to deliver value to its shareholders."
Under the share subscription agreement, BHP has the right to nominate one director to the SolGold board. BHP also has anti-dilution rights for a two year period to allow it to preserve its shareholding at 10 per cent. Subject to certain exceptions, BHP has agreed not to acquire further shares in SolGold for a period of two years without SolGold’s consent. For a period of two years, BHP has agreed to support proposed change of control transactions relating to, and capital raising up to a limit by SolGold, provided these
If I was looking for something like that I would look at a large general Investment Trust. Spreads the risk, can often brought at a discount to assets too. Yes will fall if there is a wider market downturn but are usually quite steady.
Either that a a manufacturer of tea towels, business looks like it’s going to be good!