BHP has entered into an agreement with
Guyana Goldfields Inc. to acquire a 6.1%
interest in SolGold Plc, the majority owner
and operator of the Cascabel porphyry
copper-gold project in Ecuador.
BHP Chief Executive Officer Andrew
Mackenzie said the investment in SolGold
would give BHP exposure to a high-quality
copper exploration project in Ecuador,
which is a highly prospective location
for BHP.
“Consistent with our positive longterm
outlook, copper is a key exploration
focus for BHP as we seek to replenish our
resource base and grow this important
business,” Mackenzie said.
Under the terms of the agreement with
Guyana, BHP will acquire 103.1 million
shares in SolGold, for 26.592 pence per
share, for a total of about $35 million.
As featured in Womp 2018 Vol 10 - www.womp-int.com