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SolGold PLC on Friday said it has received an all-cash takeover proposal that the board is minded to accept and that already has the support of shareholders with a 40% stake. The approach was the third from Jiangxi Copper Co Ltd. The latest proposal is for 28 pence per share, raised from its previous non-binding offer of 26p in late November. SolGold shares were down 9.4% to 25.55p early Friday but have more than tripled over the past 12 months. The offer values SolGold’s equity at £842 million. It represents a 43% premium to SolGold share price on November 19, the day before JCC’s first approach was disclosed. SolGold said that if a firm offer is made at the new price, the board is minded to recommend it to shareholders. Some of the company’s biggest investors have already made up their minds. Shareholders representing 40.7% of the total have committed to accept the offer. This includes JCC’s own holding in SolGold of 12.2% and holdings of 10.3% each of larger mining peers BHP Group Ltd and Newmont Corp. Additionally, Maxit Capital LP supports the offer for its 5.1% stake and Nicholas Mather for his 2.8% holding. JCC must provide a firm intention to make an offer by end of day on December 26. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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