LSE- and TSX-listed SolGold on Wednesday announced a further investment from Jiangxi Copper Company Limited (JCC), which would see the Chinese mining giant acquire about 157-million shares in SolGold at a premium price, raising gross proceeds of $18-million.

The deal, which involves the sale of 157 141 000 ordinary shares of SolGold by its wholly-owned subsidiary, SolGold Canada, comes at a price of $0.115 a share. This price represents a premium of about 45% over SolGold’s closing middle-market share price on March 11, 2025. 

Following the investment, Jiangxi Copper, through its subsidiary Jiangxi Copper (Hong Kong) Investment Company Limited, would increase its holding in SolGold from 6.95% to 12.19% of the company's total issued share capital.

The shares being sold were originally acquired through SolGold's acquisition of Cornerstone Capital Resources (now known as SolGold Canada) in late 2022, with the transaction being finalised on February 24, 2023. No new shares have been issued in relation to this investment, meaning the total number of shares in SolGold remained unchanged.

“As we endeavour to re-shape and streamline the SolGold investment proposition this investment by Jiangxi, at a substantial premium to Monday’s closing price, is a powerful endorsement towards the intrinsic value embedded in SolGold. The proceeds will materially strengthen our balance sheet and support current efforts to unlock further value for shareholders," said SolGold CEO Dan Vujcic.

In addition to the financial backing, Jiangxi Copper would provide SolGold with technical consulting services related to its Cascabel project in Ecuador, subject to mutual agreement. The technical cooperation would run through to March 2027, with Jiangxi offering its expertise without charging SolGold for any associated costs unless agreed upon by both parties.

"SolGold is very fortunate to have multiple high-quality shareholders and financiers who are willing and able to assist the company in progressing Cascabel and its highly prospective exploration portfolio," said Vujcic.

The investment is expected to provide a significant boost to SolGold’s ongoing operations, including its plans for the Cascabel project, one of the world’s most promising undeveloped copper/gold projects.