Cornerstone says SolGold’s hostile bid fails
Mining News Pro - Cornerstone Capital Resources has claimed victory in defending against a hostile bid from SolGold – its joint venture partner in the Cascabel concession, in Ecuador.

Cornerstone said that SolGold’s hostile bid expired on October 14, without any common shares being taken up.

Australia-headquartered SolGold, which is backed by BHP and Newcrest Mining, on June 30 formalised an unsolicited offer for Cornerstone – a year-and-a-half after it first announced its intention to buy the company.

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