Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Date for the diary
https://www.diggersndealers.com.au/dnd/wp-content/uploads/DD2022Presenter-Programme.pdf
Charm offensive in top gear now !!!!!!
Darryl talking again
https://twitter.com/northernminer/status/1522299812888129542?s=21&t=oewzi4UcF3lyRQdvZluqWQ
TPC,lol!!:):) Ooh interesting late trade there .....indeed
Lol porky
I knew someone who was an executive ejection coordinator…… head bouncer in the Red Lion
Either way a massive rerate coming here imho gl
I think we'll find out soon enough if we going to production and who's funding it or we get bought out altogether imho interesting few months I think plus drill updates coming
David how long do you think it will take to train technicians?
Thanks David
Do you plan to train people from the community to be mine technicians in the future?
Our goal as soon as we get to production is that we have trained technicians from the area, from the province. Our activity with the Ministry of Education has been to encourage young people who are in high school to go to technical schools to develop skills, so that they will be the ones who manage the mine plant in the future.
When will it come to the stage of community consultation and socialization?
The community must be informed in the environmental impact study. Socialization must be done so that the people understand what we are doing. They have the right to ask and receive adequate answers to their concerns. Regarding prior, free and informed consultation, this corresponds to areas that have indigenous communities, that is, to ancestral areas. It is important to clarify that the obligation to make the consultation is not the obligation of the company, but of the State.
This also guarantees the subsequent use of the resource in future stages or even in parallel, with the same infrastructure.4
This mine is one of the largest in the world. How can its importance be understood?
With this latest resource utilization data, the mine is in the top 20 in the region. It is a copper deposit, with gold and silver credits, which has a production projection of 30,000 million in 25 years, which means a tremendous boost for the economy of Ecuador. It should be noted that the production of copper is of absolute importance to combat global warming and not use fossil fuels. Cascabel is the largest potential mine in Ecuador.
What was the factor that influenced the mine to be underground? Perhaps to generate less environmental or visual impact?
The physical style is what determines it to be an underground mine. The deposit is 1.5 kilometers deep, it is not immediately on the surface. Its long-term development must be underground, there is no option on that.
When will the royalties arrive or what are the most immediate benefits for the treasury?
In the development of any mine, royalties come from production, because a percentage of between 3% and 8% is calculated on the sale value of the concentrate. Mainly they come from the first production. But in Ecuador they have demanded advance royalties, and this is an issue that still needs to be discussed in the negotiation. At this time, we are confirming [an] exploration investment, until December 2023, planned [of] $430 million, and this includes activities in the exploration phase.
How has it been in a topic that is sensitive and a priority: the approach to the community?
At Cascabel we have had an excellent relationship with the community. In the initial exploration stage we have generated employment by hiring labor, transportation; We use a group of women for kitchen work, who are trained in food preparation. We have also supported training in other types of activities, such as exploration, drilling, environmental care. We have worked with the Ministry of Agriculture and the Ministry of Health, especially due to the pandemic.
How much employment have they generated so far?
As of April 2022, SolGold's total employment is 783 employees; 98% is Ecuadorian talent. Meanwhile, the subsidiary company ENSA (in charge of the Cascabel project) has 409 employees, of which 341 are local. That is, from the area of influence of the project.
An issue of concern is, for example, the environment. How are you dealing with it?
For example, we use the water from the area of the slopes; Before returning it, we process it in water treatment plants so that it has adequate characteristics, if not better, than the ones it had. Likewise, when we drill, the water is recirculated. This reduces its use and, in the end, we return it treated. In addition, we teach the community itself to be overseers of water treatment. We have a trained community group for this.
Do you plan to train people fr
DbW. If you open the link in chrome there is a translate option.
Andrew Taunton, vice president of SolGold Ecuador, which manages the Cascabel concession, one of the copper deposits that is currently in the top 20 in Latin America, explains the progress of the phases of the mining process. After the pre-feasibility study, it is estimated that the investment for the construction of the mine, located in Imbabura and which would start in 2024, should be $2.7 billion.
The project, which will be an underground mine, still needs to go through several stages, such as obtaining construction permits and an environmental license. The relationship with the surrounding communities has been positive through the generation of employment and the transfer of knowledge.
This study is part of the mining development. In mining there are several stages: initial exploration, advanced. In the case of Cascabel, we have drilled 310,000 meters in the Alpala deposit. Even if a large deposit has been found, what needs to be done is the pre-feasibility study. This analysis determines if it is feasible to develop the deposit, and considers the need for investment and the percentage that will be used in a first production estimate. Thus, it has been concluded that in 26 years we will extract only 38% of what exists.
After pre-feasibility, what comes next?
After that, you have to do two things: talk to the government, discuss potential future production, talk to investors interested in providing funds. In two more years we must obtain the production license that will allow us, together with environmental impact studies, the start of construction, which would be in approximately 2024.
Construction will already mean a greater volume of investment, is that correct?
According to estimates, some $2.7 billion are needed for construction. This investment figure will lead us to complete the infrastructure to start the production of the mine. Later we will increase, in five years, to the maximum production; for this $ 2,100 million more are required. The latter is to develop the plant to its maximum capacity and have capital to replace equipment during the useful life of the mine, that is, in 26 years. Four to five years of construction are currently anticipated to go into production in 2029.
Was the volume of minerals already known before? What is the final data?
In the original study we indicated the estimated amount of resources. This is: 9.9 million tons of copper, 21.7 million ounces of gold and 92.2 million ounces of silver. Now, refining this, for more detail, we focus on an area in the center of the deposit. And it is defined that we are going to use, in this case, 3.26 million tons of copper, 9.37 million ounces of gold and 30 million ounces of silver. The idea is that with the $2,700 million of investment we reach this production as soon as possible, in order to generate a recovery for investors and that the country also receives the income, which can be used for the work of the social sector. This also guarantees the
Part 3
How much employment have they generated so far?
As of April 2022, SolGold's total employment is 783 employees; 98% is Ecuadorian talent. Meanwhile, the subsidiary company ENSA (in charge of the Cascabel project) has 409 employees, of which 341 are local. That is, from the area of ??influence of the project.
An issue of concern is, for example, the environment. How are you dealing with it?
For example, we use the water from the area of ??the springs; Before returning it, we process it in water treatment plants so that it has adequate characteristics, if not better, than the ones it had. Likewise, when we drill, the water is recirculated. This reduces its use and, in the end, we return it treated. In addition, we teach the community itself to be overseers of water treatment. We have a trained community group for this.
Do you plan to train people from the community to be mine technicians in the future?
Our goal as soon as we get to production is that we have trained technicians from the area, from the province. Our activity with the Ministry of Education has been to encourage young people who are in high school to go to technical schools to develop skills, so that they will be the ones who manage the mine plant in the future.
When will it come to the stage of community consultation and socialization?
The community must be informed in the environmental impact study. Socialization must be done so that the people understand what we are doing. They have the right to ask and receive adequate answers to their concerns. Regarding prior, free and informed consultation, this corresponds to areas that have indigenous communities, that is, to ancestral areas. It is important to clarify that the obligation to make the consultation is not the obligation of the company, but of the State. (I)
Translated on Google Translate .
G
Part 2
Was the volume of minerals already known before? What is the final data?
In the original study we indicated the estimated amount of resources. This is: 9.9 million tons of copper, 21.7 million ounces of gold and 92.2 million ounces of silver. Now, refining this, for more detail, we focus on an area in the center of the deposit. And it is defined that we are going to use, in this case, 3.26 million tons of copper, 9.37 million ounces of gold and 30 million ounces of silver. The idea is that with the $2,700 million of investment we reach this production as soon as possible, in order to generate a recovery for investors and that the country also receives the income, which can be used for the work of the social sector. This also guarantees the subsequent use of the resource in future stages or even in parallel, with the same infrastructure.
This mine is one of the largest in the world. How can its importance be understood?
With this latest resource utilization data, the mine is in the top 20 in the region. It is a copper deposit, with gold and silver credits, which has a production projection of 30,000 million in 25 years, which means a tremendous boost for the economy of Ecuador. It should be noted that the production of copper is of absolute importance to combat global warming and not use fossil fuels. Cascabel is the largest potential mine in Ecuador.
What was the factor that influenced the mine to be underground? Perhaps to generate less environmental or visual impact?
The physical style is what determines it to be an underground mine. The deposit is 1.5 kilometers deep, it is not immediately on the surface. Its long-term development must be underground, there is no option on that.
When will the royalties arrive or what are the most immediate benefits for the treasury?
In the development of any mine, royalties come from production, because a percentage of between 3% and 8% is calculated on the sale value of the concentrate. Mainly they come from the first production. But in Ecuador they have demanded advance royalties, and this is an issue that still needs to be discussed in the negotiation. At this time, we are confirming [an] exploration investment, until December 2023, planned [of] $430 million, and this includes activities in the exploration phase.
How has it been in a topic that is sensitive and a priority: the approach to the community?
At Cascabel we have had an excellent relationship with the community. In the initial exploration stage we have generated employment by hiring labor, transportation; We use a group of women for kitchen work, who are trained in food preparation. We have also supported training in other types of activities, such as exploration, drilling, environmental care. We have worked with the Ministry of Agriculture and the Ministry of Health, especially due to the pandemic.
Andrew Taunton, vice president of SolGold Ecuador, which manages the Cascabel concession, one of the copper deposits that is currently in the top 20 in Latin America, explains the progress of the phases of the mining process. After the pre-feasibility study, it is estimated that the investment for the construction of the mine, located in Imbabura and which would start in 2024, should be $2.7 billion.
The project, which will be an underground mine, still needs to go through several stages, such as obtaining construction permits and an environmental license. The relationship with the surrounding communities has been positive through the generation of employment and the transfer of knowledge.
What has the pre-feasibility study that has just been presented on Cascabel revealed?
This study is part of the mining development. In mining there are several stages: initial exploration, advanced. In the case of Cascabel, we have drilled 310,000 meters in the Alpala deposit. Even if a large deposit has been found, what needs to be done is the pre-feasibility study. This analysis determines if it is feasible to develop the deposit, and considers the need for investment and the percentage that will be used in a first production estimate. Thus, it has been concluded that in 26 years we will extract only 38% of what exists.
After pre-feasibility, what comes next?
After that, you have to do two things: talk to the government, discuss potential future production, talk to investors interested in providing funds. In two more years we must obtain the production license that will allow us, together with environmental impact studies, the start of construction, which would be in approximately 2024.
Construction will already mean a greater volume of investment, is that correct?
According to estimates, some $2.7 billion are needed for construction. This investment figure will lead us to complete the infrastructure to start the production of the mine. Later we will increase, in five years, to the maximum production; for this $ 2,100 million more are required. The latter is to develop the plant to its maximum capacity and have capital to replace equipment during the useful life of the mine, that is, in 26 years. Four to five years of construction are currently anticipated to go into production in 2029.
DBW, ooh can't translate it into English but just out today by looks of things
Why are peopke listening to him just filter him so he talks to himself
Maybe the same interview rehashed ?
Can’t translate ….. in car
https://www.eluniverso.com/noticias/economia/andrew-taunton-de-solgold-cascabel-proyecto-minero-en-top-20-de-la-region-requerira-2700-millones-para-construccion-de-mina-nota/?outputType=amp
Buddy you do have a point I believe about relative values. As we know in Oz it is common for FIFO workers with fairly standard trade qualifications to earn $250 k and above due to remoteness of location and scarcity of skilled labour. The numbers go up from there for engineers / geologists. If Nick Mather is spending time in Ecuador having input into exploration the larger numbers don’t come as a surprise. I don’t know what he is actually doing but he is in an awkward position. The real anchor on the share price I believe are the significant shareholdings of BHP and Newcrest. If a large outsider gets involved the price will take off but we have been circling around that topic for years (literally) now. Hope it happens before I get too much older. GLA
buddy, what on earth does the average wage in Perth have to do with the remuneration of a non-exec of a London listed firm? And since I was merely quoting the facts as stated in the annual Report and Accounts you may wish to reconsider your post.
Thanks for that clarification LunchMoney. Not sure what 'non executive director' or 'independent director' or 'non-independent director' actually means and I suggest, am not the only one. I thought I had explained that none of the 60p options allocated to Mather were exercised.....my poor writing ability. Anyway, will do some research as to what the above mentioned terms actually mean. Would appreciate if someone much more knowledgeable that me might give their insights as well.
lets put this $100,000 for Chairman in 2021 to bed. Mather was in that position for 8-9 months and was paid $827K, as per annual report. The Chairman who was acting in that position for perhaps 3-4 months got paid the $100.000. He would only have received this pay when he was appointed to the position and not backdated to when Mather actually resigned. The SOLG chairman position for a whole year would have been paid roughly 4 times plus X $100k.....Mather was being paid substantially higher than his other directors year after year. Remember in one year alone it was well over $3millionUS. This was not his only job/position where he was paid collectively an additional $6-800,000 so at best his chairmanship was only for part time work he performed. That's not bad payment on what he achieved for SOLG shareholders over the last decade or two.
Addicknt and LunchMoney: Have reviewed Notes 5, 23 and 26 from 2021 Annual Report and will confirm that Mather/Samuals Investment PL received $400,162 in 2020. In 2021 he received a total $827, 380 which included an additional $427k severance payout when he resigned and became an independent director. Substantially well over chairman's $100k pay in 2021...taking that we only had an acting chairman after Mather's resignation. Mather was awarded some 31,250,00 60 p options due to expire in 2020 and 2021 which have not been exercised (5,000,000 from a loan from company). Nothing has been released from company or Board as to who will receive the additional 25-35 options which expire in 2023/24. Believe a large portion will be allotted to BHP .... but not sure. Remember that only a few years earlier Mather was granted $3,000,000 worth of shares for at least one year but that could have carried over to a second year......not sure. His pay increased from $350k to $400k and then to $600k per year (paid as CEO/Chairman for 8-9 months before resignation plus severance pay making total $827k). Average pays for other Directors of Board were Moller ($72k), Claire ($62k) Twigger ($93k). Newly appointed directors during financial year were more or less similar.
My question is the same. What can we expect Mather will receive now...suggest well less than $100k p/a but with this fellow I don't for a moment he will. I agree with Redknight1 that he is certainly not an independent director and like Buddy5 I think Mather should be scrutinized and ,imho removed all together. From memory no vote was taken concerning Mather's directorship at last year's AGM. He didn't have the guts to do so. 2022 will be different! Suggest all posters/shareholders at least on this forum have a look at the way DGR (8.9% interest held in SOLG) and it's daughter companies (refer hotcopper forum) which Mather has total control of and again paid substantially per year, are fairing. Most have a share value of under 1 cps (Aus$) and some are down to 0.001cps. Unbelievable that Mather is allowed to be a director/CEO or Chairman of any company. One that long term shareholders of SOLG have paid dearly while day traders have been able to feast.
Agree Addicknt. Which imo makes it far more likely there will be a deal. Not so many people to have a chat with to get a nice chunk. Some are in it for the money, some for the asset, which just leaves the price as the unknown in the equation.
Oh, plus time of course...