On 16 Nov 2019, Mr. Peter ZHOU, Special Advisor to the Chairman and Representative of Greater China Region of Ivanhoe Capital Corporation, and Mr. Qinghai WANG, Vice Chairman of JCHX signed the Subscription Agreement for JCHX’s strategic investment in Cordoba Minerals, marking a milestone in mineral resources development for JCHX.
Listed in Toronto Stock Exchange and NASDAQ, Cordoba Minerals, is a mineral exploration company, with its key asset San Matias located in Columbia. The concession covers around 200 square kilometers, application for additional 25 square kilometers is pending, including deposit EI Alacrán, Montiel East, Montiel West and Costa Azul, currently mining plans and EIA are in progress.
As part of our strategy for minerals development and through multiple communications with Ivanhoe, a common sense was reached between both parties on building mutual strategic partnership and Subscription Agreement was signed, according to which JCHX through its wholly owned subsidiary subscribed 91,372,536 common shares from Cordoba Minerals, equals to 19.9% of Cordoba’s equity.
Both parties extend their wishes to take this opportunity to deepen cooperation and operate San Matias with joint efforts. Peter mentioned that Mr. Robert Friedland, founder and Chairman of Ivanhoe, values his friendship with Mr. Wang through a long-term partnership, and appreciates the services JCHX provided for Kamoa-Kakula Project at DRC, where JCHX fulfilled the target with good quality and high standard. Mr. Robert Friedland strongly believes that JCHX could bring its advantages and capabilities to San Matias and both would acquire prominent achievements by extended cooperation.
Chairman Wang said JCHX has rich experience and strong competence in mine construction and mining operation, while Ivanhoe as a brilliant global mineral exploration company, is a genius in identifying world-class mineral assets. The cooperation between two parties is a win-win situation based on complementary advantages and mutual benefits, which shall generate more opportunities in the near future.
