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HFH. Any major groups that intends to be the future owner of Cascabel will not be interested in the phased approach as they have the coin to ramp up immediately and go hard.
If you had our former capex bill to the other notable projects and investments, you get bang on the 4.8b outlined by Noboa.
Hence I believe the revised PFS was a smokescreen to buy time. The time is now.
Lol Sharket it’d be a start
Pinched from HH on X/Twitter.
Argonaut Securities a London based broker has published a Speculative BUY note with a 11.6 pence target price.
Liam Twigger (remember him!) is deputy chair of Argonaut.
85% upside from here. Heaven help us if that's the best we can hope for.
NMM I agree with you about the amount, it would be on the revised PFS figure, and yes they'd have to RNS it tomorrow if its actually happened. Its obviously exciting ATM although worth noting that it's pure speculation at this point, although I'm frantically trying to get confirmation!
After listening to Mark Bristow, he does not have Cascabel in his sights, imho!
30 days???
If a revised IPA for Cascabel, surely this would be classified as material, price-sensitive information and would require an announcement "as soon as possible". i.e. within a day.
HereforHemo - absolutely agree, based on numbers quoted it seems likely Solgold are involved.
The danger with this forum is that facts/statements can be twisted...
I DIDN'T say that Solgold are not included.
I simply questioned the $2.7bn that BBG was including to get to the $4.8bn. It is an old/redundant number now?
Addicknt - I think I'm already on BBG (and redknight) filter list anyhow!
But still trying to make a factual contribution for the benefit of users of the board.
I agree with you re: it being a more exiting time for Solgold. At least vs. the last 12 months!
Legally, do they have 30 days?
How long does SOLG have to officially announce this news
Agree
NMM I said a while back Scott would be meeting with Noboa to have high level meetings in Toronto and you would have to say the the amounts quoted for the six deals signed off, it seems highly likely that SOLG are involved, at least in my opinion. I can't see any other way that billons of investment would be reached without Cascabel being involved?
Would be interesting if Porvenir was included. That would require at least $100m extra spend to get to DFS. Likely a $400m+ capex project but one that would deliver handsome profits due to smaller mine scale and faster pay back.
We know the chinese like Porvenir as it sits within easy reach of their existing infrastructure in south.
Certainly alot of activity around Ecuador right now and some major miners might be feeling left out especially when Gov incentives make the mines more attractive than the likes of Chile and Brazil which have both increased taxes over last few years.
Careful, NMM. He'll mark you down as a deramper for that post and you'll be on his bin list before you know it.
Https://finance.yahoo.com/news/adventus-mining-announces-signing-investment-114500461.html
La Plata Project- 250m capex
Cangrejos Project - 925m capex
Loma Larga Project - 350m capex
Curipamba Project - 300m capex
Cascabel Project - 2,700m (per Aprill 2022 PFS)
Exploration commitment // Barrick - 100m
Exploration commitment // Hanco'ck - 120m
Exploration commitment // Adventus - 100m
Total = $4,845m
I don't agree on those workings BBG...
Why use the $2.7bn 2022 PFS spend? We've overwritten that with the low-capex PFS.
Also there is an existing IPA in place for the 2022 PFS?
And just like that, we found the balance needed to make 4,8B
Released just now:
Adventus Mining Announces the Signing of an Investment Agreement with the Government of Ecuador for the Development of the Condor Project
TORONTO, March 5, 2024 /CNW/ - Adventus Mining Corporation ("Adventus" or the "Company") (TSXV: ADZN) (OTCQX: ADVZF) is pleased to announce the signing of an Investment Agreement ("IA") with the Government of Ecuador for the development of the Condor mining project located in southeastern Ecuador (the "Project"). This important milestone reached between the Government of Ecuador and Adventus provides a foundation for the continuing advancement of the Project towards development and for the negotiation of the Investment Protection Agreement ("IPA") that would be required for future mining construction and operations if the Project reaches that stage of advancement. The IA is a statement of mutual interest between Adventus and the Government of Ecuador, through the Ministry of Production, Foreign Trade, Investment and Fisheries, to negotiate the terms and conditions for a future IPA that is expected to outline the Project´s scope, investment commitments, timelines and responsibilities and to work together towards obtaining all necessary approvals, licences and permits under Ecuadorian law and international standards.
The IA explicitly covers an investment commitment by Adventus, totaling a minimum of US$100M, which includes US$52 million of historical spending made on the Project from 2010 to 2023 and the future investment commitment of US$48 million for the period between 2024 and 2038. The IA also extends to include any additional investments made by Adventus during the period, which would be included for investment protection in the future IPA.
The news article refers to the fact that the 4.2bn will not involve any government expenditure. So what do the six parties get in return for their cash? All outstanding licences? IPA? What else?
Is this really the green light, or is it simply another step in the approval process which will require more bureaucracy?
This is the tweet that mentions the $4.8bn, with photos of 4 groups with agreements.
https://twitter.com/RecNaturalesEC/status/1764820784797655192
Looking at the PDAC brochure (https://cme.org.ec/brochure-digital-pdac-2024/) I think I recognise:
Atico?
Lumina?
The future custodian of Cascabel will have deep pockets and will not require the revised ramp-up pathway. If you apply the 2,7b required to develop Cascabel (per April 2022 PFS), and add that to the deals which Yepez wants to move forward (plus recent commitments from Hanco'ck and Barrick), we get pretty much the number confirmed per deals signed off by Noboa in todays article.
La Plata - 250m capex
Cangrejos - 925m capex
Loma Larga - 350m capex
Curipamba - 300m capex
Cascabel - 2,700m (per Aprill 2022 PFS)
Barrick - 100m
Hanco'ck - 120m
Total = $4,745m
The recent flurry of of news items and our recent announcements seems to have led to a growing degree of enthusiasm...at least it has with me.
Are we on the brink of some substantial news? Or is this wishful thinking on my part?
"The Ecuadorian Government also signed letters of intent to receive financing, for 120 million Canadian dollars, aimed at clean energy projects."
When you read the final paragraph from the link in conjunction with yesterday's RNS, you can see that this is all finally coming together 🙏, heaven knows we've waited long enough, ignore the doom mongers they don't know what they are talking about...
55p by some Friday soon !!!
NMM, yes, I recall reading that somewhere as well. It may well explain the delay.
Scott has purposely gone 'underground' last 3 months. No articles, no interviews etc.
Scott confirms the company has never been in a stronger position.
Scott now at PDAC without any promotion of attendance - standing directly behind Noboa for official photos.
Solg sub $10m in kitty - SR well and truly concluded with lower capex PFS and confirmation of JV to power Cascabel project. Contractors includes Semaica who constructed Fruta Del Norte.
Santiago Yépez confirms Noboa's expectations for PDAC and mentions the following 5 projects will move forward:
La Plata - 250m capex
Cangrejos - 925m capex
Loma Larga - 350m capex
Curipamba - 300m capex
Cascabel: 1,555m capex
https://www.bnamericas.com/en/interviews/what-ecuadors-mining-industry-expects-from-pdac
Noboa signs off on 4.8b of deals per article this morning.
What makes up the 4.8b of deals????
Speculation increasing