BHP To Buy Stake In SolGold

(RTTNews) - BHP (BHP.AX, BLT.L, BBL, BHP) said that it reached an agreement with Guyana Goldfields Inc. to acquire its 6.1 per cent interest in SolGold Plc , the majority owner and operator of the Cascabel porphyry copper-gold project in Ecuador.

As per the terms of the agreement with Guyana, BHP will acquire 103.1 million shares in SolGold. SolGold is listed on the London Stock Exchange (LSE) and the Toronto Stock Exchange.

The purchase price payable by BHP is 26.592 pence per SolGold share, representing a 20 per cent premium to the 20 day volume-weighted average LSE price of 22.16 pence per share as determined on 4 September 2018.