SolGold – shares up 270% this year, now wait for the 28p cash bid or sell quickly into the market and reinvest immediately

Mark Watson-Mitchell
Dec 29, 2025
2 min read

Mark Watson-Mitchell – 29.12.2025

After having peaked at 32.50p just three weeks ago, the shares of SolGold (LON:SOLG) are now trading at 25.65p.

However, the £772m-capitalised mining group has now confirmed agreement with Jiangxi Copper for a £867m cash bid of 28p a share.

My view is that holders should sell straight into the market as quickly as possible, with an immediate view to reinvest elsewhere.

The group’s shares have been quite a performer this year, having risen some 270%.

The Business

SolGold is a leading mineral exploration and development company, with offices in Zug, Switzerland, London, and in Quito, Ecuador.

The company is focused on the discovery, definition and development of world-class copper and gold deposits.

Since it was set up in 2006, the company has established itself as one of the largest concession holders in Ecuador, exploring the length and breadth of the highly prospective Andean Copper Belt.

Its flagship project, Cascabel, located in northern Ecuador's Imbabura Province, represents one of the world's most significant undeveloped copper-gold porphyry deposits and is positioned to become a cornerstone mining operation in South America.

The Cascabel Project encompasses two significant deposits: the Alpala porphyry copper-gold-silver deposit and the Tandayama-América porphyry copper-gold deposit.

These mineralised systems are hosted within the Andean Porphyry Belt that extends from southern Chile through to Ecuador, Colombia and Panama, hosting the largest concentrations of copper in the world.

The Bidders

The boards of directors of SolGold and JCHK, for and on behalf of Jiangxi Copper Company Limited, have reached agreement on the terms of a recommended all-cash acquisition of the entire issued and to be issued ordinary share capital of SolGold.

Under the terms of the Acquisition, SolGold holders will be entitled to receive 28p cash per SolGold Share, valuing the entire issued and to be issued share capital of SolGold at approximately £867m.

Jiangxi Copper Company

JCC, headquartered in China and with its shares listed on both the Shanghai Stock Exchange and the Hong Kong Stock Exchange, is one of the largest global producers and suppliers of copper products.

It is engaged in copper and gold mining, milling, smelting and refining, and the production and sale of copper cathodes and other non-ferrous metals and chemical products.

The company has extensive experience in developing and operating complex mining and smelting projects.

In 2024, JCC recorded $72.6bn in annual revenue and maintains a significant global footprint across Asia, Africa, and the Americas.

JCC, through its subsidiaries Gemstone 102 Ltd and JCHK, has been a shareholder in SolGold since November 2020.

Jiangxi Copper (Hong Kong) Investment Company

Established in 2016, JCHK, which is a wholly owned subsidiary of JCC, it serves as JCC's international investment vehicle and is focused on investments in nonferrous and precious metal sectors.

JCHK has been a shareholder in SolGold since December 2022, currently holding directly and indirectly, some 12.2% of SolGold's issued share capital.

My View

Take the market’s cash offer now and don’t wait for the formal settlement – reinvesting elsewhere while the market is on a positive run.