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BHP spends $22m lifting stake in SolGold to 14.7%

Mon, 25th Nov 2019

Latin America focused gold miner SolGold said larger rival BHP had spent $22m buying shares in the company. The purchases, at 22.15p per share, gave the mining giant a 14.7% stake and made it SolGold's biggest shareholder. SolGold said it had invited, and that BHP may provide, secondees for the technical effort for the completion of feasibility studies at SolGold's 85%-owned Cascabel project in Ecuador. 'SolGold is pleased to welcome BHP into a further position in the company,' chief executive Nicholas Mather said. 'SolGold's view is that the agreement endorses its view of SolGold's commanding Ecuadorean copper and gold exploration footprint, and in particular the robust Alpala deposit.' At 1:26pm: (LON:BHP) share price was +14.4p at 1724.6p (LON:SOLG) SolGold PLC share price was +2.47p at 22.05p Story provided by StockMarketWire.com

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