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SolGold (OTCPink:SLGGF,LSE:SOLG) has confirmed that it received and has once again rejected a preliminary, conditional, non-binding proposal from Jiangxi Copper (OTCQX:JIXAY).

Pitched at 26 pence (US$0.34) per ordinary share, the offer to acquire the entire issued and to-be-issued share capital of the company, was Jiangxi’s second attempt in recent weeks.

An earlier non-binding proposal on November 23 was unanimously rejected by SolGold’s board.

According to the company, its board has again decided to reject the proposal, citing confidence in the company’s standalone prospects.

“Shareholders are advised to take no action in relation to the proposal,” SolGold wrote. “A further announcement will be made when appropriate.”

Focused on discovering and developing world-class copper and gold deposits, SolGold holds a strong presence in Ecuador’s Andean copper belt.

Its flagship asset is the Cascabel project, located in the Imbabura province in northern Ecuador.

Cascabel’s February 2024 pre-feasibility study highlighted an average production of 123,000 tonnes per annum of copper, 277,000 ounces per annum of gold and 794,000 kilo ounces per annum of silver.

This comes with a 182,000 tonnes per annum copper equivalent, “with peak copper production of 216,000 tonnes per annum.”

Based on its updated mineral reserve estimate, the project holds 540 million tonnes (Mt) containing 3.2 Mt copper at 0.60 percent, 9.4 million ounces gold at 0.54 grams per tonne (g/t) and 28 million ounces silver at 1.62 g/t over an initial 28-year mine plan.

SolGold said that Cascabel is positioned to emerge as a top copper and gold mine in South America, holding potential to be among the top 20 in the world.

“We are dedicated to minimizing Cascabel’s carbon footprint, exploring strategies such as maximizing hydro-generation power and enhancing operational efficiency,” the statement read.

“SolGold is committed to pioneering carbon-neutral operations in large-scale copper concentrate mines, contributing to a greener global economy through proactive environmental stewardship.”

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

Zijin Mining Group (OTC Pink:ZIJMF) founder Chen Jinghe is stepping down after four decades at the helm, retiring as chairman and transitioning to honorary chairman and senior consultant.

According to a Bloomberg report, Chen’s retirement announcement came from a Saturday exchange filing, where he declined renomination to the board for “age and family reasons.” As of writing, the company has not yet chosen a successor.

Chen, a trained geologist, founded the company in the 1980s with a small gold deposit in southeastern China. Under his leadership, Zijin pursued an aggressive expansion strategy anchored on gold and copper, transforming a provincial operation into a global competitor.

The group’s market value surpassed US$100 billion for the first time this year, placing it behind only BHP (ASX:BHP,NYSE:BHP,LSE:BHP) and Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO,OTC:RTPPF) among publicly listed miners.

In the filing, Chen said it was “the best time to transition to a new leadership,” adding that a company with lasting success should evolve from being “founder-driven” to “institution-driven.”

The leadership change also caps a year shaped by both financial and organizational milestones.

In late September, Zijin’s Shanghai-listed shares closed at an all-time high, lifting its market capitalization to about US$132.4 billion and reinforcing its status as one of the most valuable mining companies globally.

Zijin Gold went public in Hong Kong in a blockbuster offering in late September after a one-day postponement caused by Super Typhoon Ragasa. Priced at HK$71.59 per share, the IPO raised nearly HK$25 billion, making it the world’s second-largest listing of 2025.

The stock soared more than 60 percent on its debut, buoyed by gold prices that hit new peaks on the same day. Spot gold touched a record (at the time) US$3,839.19 per ounce, extending a rally driven by safe-haven demand.

In 2024, Zijin produced 1.3 million ounces of gold, placing it ninth globally in estimated reserves.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

The silver price hit a new all-time high on Monday (December 1), rising as high as US$58.83 per ounce.

The white metal’s rise continues a breakout that began on November 28 after CME Group (NASDAQ:CME) halted trading on the Comex, citing a ‘cooling issue’ at a CyrusOne data center located in a Chicago suburb.

All markets were open and trading by 5:46 a.m. PST that day, but the disruption raised concerns among traders — according to Reuters, the outage was one of the longest in years for CME Group.

Adding fuel to the fire on Monday were increased expectations for an interest rate cut from the US Federal Reserve.

The Fed’s next meeting is set to run from December 9 to 10, and while market participants were previously divided on whether another cut is coming, CME Group’s FedWatch tool now shows strong expectations for a reduction.

Target rate probabilities for December Fed meeting.

Chart via CME Group.

In addition to that, US President Donald Trump said on Sunday (November 30) that he has decided who the next Fed chair will be. While he didn’t give a name, people familiar with the news told Bloomberg that Kevin Hassett, director of the White House’s National Economic Council, is seen as the likely candidate.

Trump has frequently criticized current Fed Chair Jerome Powell for not lowering rates quickly enough, and Powell’s replacement is widely expected to be more in line with Trump’s views.

Speaking on CBS on Sunday, Hassett was relatively tight-lipped about the Fed chair position.

“I think that the American people could expect President Trump to pick somebody who’s going to help them have cheaper car loans and easier access to mortgages at lower rate,” he commented.

“That’s what we saw in the market response to the rumor about me.”

Silver price chart, November 30 to December 1, 2025.

Silver and its sister metal gold tend to fare better when rates are lower, meaning that December rate cut expectations coupled with the Hassett rumor have helped to stoke prices for the precious metals.

While silver is known for lagging behind gold before outperforming, it’s now ahead in terms of percentage gains — silver is up about 97 percent year-to-date, while gold has risen around 60 percent. The yellow metal broke back above US$4,200 per ounce on November 28 and stayed above that level on Monday, but remains below its all-time high.

In addition to rate-related factors, silver’s breakout this year has been driven by various elements.

As a precious metal, it’s influenced by many of the same factors as gold, but its October price jump, which took it past the US$50 level, was also driven by a lack of liquidity in the London market.

While that issue appears to have resolved, a new situation has recently emerged — Bloomberg reported on November 25 that Chinese silver stockpiles are now at their lowest level in a decade after huge shipments to London.

Tariff concerns and silver’s new status as a critical mineral in the US have also provided support in 2025.

The white metal’s industrial side also shouldn’t be forgotten — according to the Silver Institute, industrial demand for silver reached a record 680.5 million ounces in 2024, driven by usage in grid infrastructure, vehicle electrification and photovoltaics. Total silver demand was down 3 percent year-on-year in 2024, but still exceeded supply for the fourth year in a row, resulting in a deficit of 148.9 million ounces for the year.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Barrick Mining’s (TSX:ABX,NYSE:B) board has authorized management to evaluate an initial public offering (IPO) of a new subsidiary that would house the company’s flagship North American gold assets.

According to a Monday (December 1) statement, the proposed entity would include Barrick’s interests in Nevada Gold Mines and Pueblo Viejo, along with the company’s wholly owned Fourmile discovery in Nevada.

The company said an IPO could happen via the listing of a ‘small minority interest,’ with Barrick retaining a controlling majority stake if a transaction proceeds. The review is part of the board’s broader effort to evaluate operational performance and maximize returns across Barrick’s asset base, particularly in its strongest jurisdictions.

“Barrick’s gold operations in Nevada and the Dominican Republic are among the best in the world, located in some of the best gold mining jurisdictions,” said Mark Hill, the company’s group COO and interim president and CEO.

He added that incorporating the Fourmile discovery, which Barrick describesas “one of this century’s most significant gold discoveries,” could position the new entity as a standout pure-play gold company.

Hill emphasized that the company’s operational priorities will remain unchanged during the process.

“While we explore an IPO of our North American assets that could give new and existing shareholders more optionality around jurisdiction in a pure gold company with growth, we will not waiver from our commitment to operate safely, perform to our targets, and deliver our growth projects,’ the executive explained.

Barrick plans to continue evaluating the IPO option into early 2026, and said it expects to provide an update alongside its full-year 2025 results in February 2026. The miner stressed that no final decision has been made, and that any move toward an IPO would require board approval and supportive market conditions.

The evaluation comes on the back of Barrick’s resolution of issues surrounding its operations in Mali.

The company has agreed to pay a US$430 million settlement and comply with the country’s new mining code in exchange for Mali’s release of its detained employees and the dropping of all legal charges.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Mercado Minerals Ltd. (CSE: MERC) (‘Mercado‘ or the ‘Company‘) is pleased to announce the closing of its non-brokered private placement financing (the ‘Offering‘). In connection with closing of the Offering, the Company issued 27,990,000 units (each, a ‘Unit‘) at a price of C$0.20 per Unit for gross proceeds of C$5,598,000. The Offering included participation and a strategic investment from Vizsla Silver Corp (“Vizsla”) in Mercado.

Daniel Rodriguez, CEO and Director commented, “We received overwhelming support in this financing, and I am excited to start advancing Copalito and Zamora as we strive to become a premier explorer focused on the under explored western margin of the Sierra Madre. I would like to welcome Vizsla as a shareholder and I am looking forward to their support as we grow.”

Each Unit consists of one common share of the Company (each, a ‘Common Share‘) and one half of one Common Share purchase warrant (each whole warrant, a ‘Warrant‘). Each Warrant is exercisable by the holder thereof to acquire one Common Share (a ‘Warrant Share‘) at a price of C$0.35 until November 28, 2028.

Finder’s fees of $218,400 were paid in cash and 1,074,500 finder’s warrants were issued to certain eligible parties. Each finder’s warrant is exercisable at C$0.35 until November 28, 2028. All securities issued with respect to the Offering are subject to a four month and a day hold period expiring on March 29, 2026.

Proceeds from the Offering will be allocated towards several initiatives, including exploration of the recently acquired properties Copalito and Zamora, acquisition costs, the generation of new project acquisitions, investor relations programs, and general corporate working capital.

About Mercado Minerals Ltd.
Mercado Minerals Ltd. (CSE: MERC) is a company involved in the business of acquiring and exploring mineral properties in the Americas. Mercado has been primarily involved in the exploration and evaluation of the Porter Property, located within the Alberni Mining Divisions of British Columbia.

For further information, contact:
Daniel Rodriguez
CEO & Director
Phone: (604) 353-4080
Email: drodriguez@mercadominerals.com

John Fraser
VP Business Development & Director
Phone: (604) 838-7677
Email: jfraser@mercadominerals.com

Forward-Looking Statement (Safe Harbor Statement):

This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘anticipate,’ ‘plan,’ ‘continue,’ ‘expect,’ ‘estimate,’ ‘objective,’ ‘may,’ ‘will,’ ‘project,’ ‘should,’ ‘predict,’ ‘potential’ and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company’s exploration plans and the intended use of proceeds from the Offering. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on these statements because the Company cannot provide assurance that they will prove correct. Forward-looking statements involve inherent risks and uncertainties, and actual results may differ materially from those anticipated. These forward-looking statements are made as of the date of this press release, and, except as required by law, the Company disclaims any intent or obligation to update publicly any forward-looking statements.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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