October 18, 2018 |
BHP Billiton said it has agreed to acquire a larger stake in SolGold, the majority owner and operator of the Cascabel porphyry copper-gold project in Ecuador.
The Anglo-Aussie mining company will pay 45 pence ($0.59) for 100m newly-issued shares in SolGold, representing a 32% premium over the 34 pence 20-day weighted average London Stock Exchange (LSE) share price.
SolGold will issue the stock via a private placement this Friday October 19. The transaction lifts BHP's stake in the project compan
Anglo-Aussie miner pays a 32% premium for a further 5.2% share in the copper project