Copper Update - Agreement with Guyana Goldfields
BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
Release Time IMMEDIATE
Date 5 September 2018
Release Number 15/18
Copper Update – Agreement with Guyana Goldfields Inc
BHP has entered into an agreement with Guyana Goldfields Inc. (Guyana) to acquire
its 6.1 per cent interest in SolGold Plc (SolGold), 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 long-term outlook, copper is a key exploration focus for
BHP as we seek to replenish our resource base and grow this important business.”
Under 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.
Further information on BHP can be found at bhp.com
Sponsor: UBS South Africa (Pty) Limited
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