Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
That much is obvious to everybody except one moron
It won't be Solgold taking it into production, that's for sure
I don't really understand why people are arguing about who takes Cascabel into production. The important thing for shareholders is its being built, there will be a mine! Whether SOLG somehow finance it (which I doubt, although I think our relationship with the Government is intrinsically linked), whether its a JV, whether Cascabel is sold, or whether SOLG is sold (which is what I think will happen with the new owners keeping the name and personnel), it really doesn't to me. ALL scenarios add shareholder value and that's my one and only concern. To me, just a matter of time.
The Ecuador government has committed $3.2-billion to the Cascabel copper and gold mining project, London- and Toronto-listed SolGold said on Wednesday, announcing a complementary investment protection agreement (IPA) for the Cascabel project.
The signing took place in Toronto at the Prospectors and Developers Association of Canada (PDAC) convention, representing a major advancement for the project and SolGold’s partnership with the Ecuador government.
In addition to the $311-million investment addressed by the current IPA, under the complementary IPA, there is a commitment to invest a total of $3.2-billion over the subsequent years in activities related to the Cascabel mining concession.
The complementary IPA embodies the biggest investment in Ecuadorian history.
"The complementary investment protection agreement not only reinforces the protections for our key investment in Ecuador, but also symbolises a deepening of our relationship with the Ecuadorian State,” said SolGold president and CEO Scott Caldwell.
Caldwell, on behalf of SolGold, signed the agreement with Ecuador Production, Foreign Trade, Investments and Fisheries Minister Sonsoles García.
Caldwell said President Daniel Noboa's attendance and speech at the PDAC convention were warmly welcomed by the mining community. “ . . . [it] underscores the significant support of his administration for responsible mining in Ecuador,” he said.
SolGold last month announced the results of a new prefeasibility study (PFS) for the Cascabel project, which supports a phased block cave mine development that substantially reduced the initial capital expenditure (capex) required.
The PFS puts an initial capex price tag of $1.55-billion on Cascabel, which the company noted was a $1-billion saving on previous estimates.
The initial block cave will achieve a production rate of 12-million tonnes a year, extracting high-grade ore of about 1.45% copper-equivalent for the first ten years of production.
SolGold points out that the extraction of high-grade material will not sterilise the surrounding lower-grade ore.
In the second phase, the mining operations will be expanded by an additional 12-million tonnes a year, increasing the yearly production rate to 24-million tonnes in year six.
Over an initial 28-year mine life, Cascabel will produce 4.3-million tonnes of copper equivalent, comprising 2.9-million tonnes of copper, 6.9-million ounces of gold and 18.4-million ounces of silver.
At peak production, the mine will yield 216 000 t/y of copper, 734 000 oz/y of gold and 1.16-million ounces of silver a year.
BHP owns 10.36% of SolGold and Newmont acquired 10.31% when it took control of Newcrest.
7 March 2024
https://www.miningweekly.com/article/ecuador-commits-32bn-to-solgolds-project-2024-03-07
If you are chasing a sale of the asset, you chase the value of the NPV which is 3,2B.
If you are chasing capex to fund and operate the project, you chase the value of the 1,5B ticket.
So securing 3,2B number is intriguing...
Could it be that we:
- have accepted an offer for $3,2B for the sale of Cascabel project (and not Solgold)
- Solgold retains its interest in its regional assets
- Solgold uses proceeds to fund regional exploration program.
So Bob & Citi have defined a package.
Will the majors want us announcing a deal with the government?
tick tock
slide 11
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://wp-solgold-2023.s3.ca-central-1.amazonaws.com/media/2024/03/March-2024-SolGold-Presentation.pdf
That was it really … keep calm and carry on.
Over the past couple of days, yes games are afoot, A very big game is being played here, !!!
there are those who DONT want any new investors buying, so they will continue with there de-ramping BB rhetoric.
DYOR , and check out SOLGOLD website for the real information on resource. etc, my 5.9p shares have helped immensely
5m+ traded in first 2 hours of trading is pretty good especially when you account for the 32m traded yesterday and the 75m block traded late Feb.
Interest is returning to the stock and rightfully so with Ecuador swinging from being 'apparently' a war zone to a mecca for mining. Fast it it turns around... just like this stock. The return to double digits is upon us after a tough few months.
Mickb, that's rather what I mean: when it fell at open, the wailers and teeth-gnashers were either dumb or posting mischievously. They're shares; they go up, they go down. It's what they do.
Yep I am heaps over my head.
Would you like me to share my most recent tax return on telegram?
Mickb
I’m sure you know BBG the ramper has been posting the same 💩 for years.
Not one trade, of multiple trades over this period, is above water.
Says all you need to know about this ramping 🤡
My thought too, Franco would no doubt love to pick up another 0.5% unlikely. though as the bigger boys would be throwing their toys out of the pram,
They have a bigger monster in the room to deal with ATM JIANGXI!!! , who want a larger slice of the pie, imo
ALL OF IT!!!
Roxi I agree. In my opinion the only risk with SOLG was their financial viability. Slashing their burn rate helped but to me, having a recent MOU signed for a Hydro-Solar plant with multiple multinationals to provide additional power to Cascabel, and most notably the confirmation of the $3.2bn commitment to actually build the mine has taken away all perceived risk. You simply do not get the President of Equador changing his diary to not only take the 8 hour flight to Canada but actually stay longer than planned just to sign a flagship history making deal with little SOLG IF he wasn't 100% sure the mine was not 100% funded and would be built. There are very exciting times ahead. 50p-£1 is realistic for this share, sooner rather than later. But, I'd emphasise its just my take on things. GLA.
One of these guys are defo in the loop for finance... whether that's for another 0.5% or for $500m and 3rd of capex... who knows. But don't rule out Mitsui either. Nor Osisko. Between them, SOLG could raise $500m for 5% royalty imho.
You missed this bit:
"No debt and $2.4 billion in available capital as at December 31, 2023"
'Cascabel (1% royalty) – In February 2024, SolGold announced the completion of a new pre-feasibility study, which outlined reduced initial capital costs and a 28-year mine plan containing 3.2 million tonnes of copper, 9.4 million ounces of gold, and 28 million ounces of silver (540 million tonnes grading 0.60% copper, 0.54 g/t gold, and 1.62 g/t silver).'
https://www.prnewswire.com/news-releases/franco-nevada-reports-2023-results-302080649.html
To be involved with SOLG, lots of exciting news over the next few days and weeks,
with the recent Ecuador government signing it has given a little shake to the Market , to wake up and smell the coffee!!!!,
SP cheap as chips, imo
Tesla1/needabrain (same person), pop over to our telegram group and I will share with you my avg and total amount of unts.
NAL
BYRONBAYGOLD has been ramping this for years and not one of his averaging down trades is above water.
That says all you need to know about how much in the 💩 he is……
Odious individual
SOLG doesn't "DO" straight lines! :)
If you expect straight-line sp movement, you are almost certain to be disappointed. To some, a dip is buying opportunity, to others doom! You decide, your money.
Thanks Fort - just need this to carry on climbing & get us back to where we should be.
Good contribution needabrain.
After taking a year off SOLG posting mickb... you are certainly back with some posting energy.
Keep it up, good to have you back. Going to be a very exciting time for shareholders ....don't you agree?