Looks like things not going well between Solgold and BHP, Newcrest
Newcrest Mining to explore options for its stake inSolGoldNewcrest Mininghas hired investment bank RBC Capital Markets to explore options for its 13.57per cent stake in gold and copper producer SolGold, two sources said, after itcontested SolGold's latest fundraising initiative.
'Concernand disappointment' as SolGold snubs BHP and Newcrest
Takeover targetSolGold has snubbed its two biggest shareholders and most likely suitors, BHPand Newcrest Mining, by signing up to a high-cost loan that has left the bigminers ''concerned'' and ''disappointed''.
BHP,Newcrest bypass SolGold fundraising
The riftbetween the management of SolGold and its two biggest shareholders, BHP andNewcrest, has widened after the copper junior's latest fundraising attemptprompted Newcrest to consider removing its representative from the SolGoldboard.
BHP and Newcrest collectively ownclose to 30 per cent of SolGold, but neither will participate in a surprise$US20 million ($28.8 million) fundraising announced by SolGold on Fridaymorning.
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