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The IPCC stated that the average temperature of the planet was 15° C back in the late 70's to early 80's and the temperature would increase by at least half a degree by the year 2000. This was based upon over 50 computer models, all with different figures, but all agreed on the same average and increase. They were all wrong as the temperature DROPPED to 14.62°C in the year 2000. As this didn't agree with what the IPCC wanted they spent the next 8 years manipulating the figures to show that the average was actually 14°C and not 15°C. One of the ways they did this is stopping the deduction of the Heat Island Effect, where it's warmer in city centre's than the surrounding countryside (buildings and people give out heat). Everyone I check on my car's temperature coming in from the countryside (avoiding roads that go up in altitude), the temperature averages 2.5°C warmer in the centre. However, as weather stations are generally in parks in city center's, they used to deduct 1.8°C from the figures. It appears that the margin for errors is far greater than the proposed increases in temperature and in fact we've had a decrease in temperature. This is backed up by the record sea ice in Antarctica, plus more acidic oceans killing coral reefs, and having to cull Polar Bears in the Arctic. The increased cold at the poles, which are desert regions pushes the jet stream towards the temperate zones, where more weather systems are encountered. This results in the jet stream having bigger peaks near highs and troughs near lows. Hence, the current heat waves in the Mediterranean and cooler weather in the UK. This also explains the 50 year lows in Winter in recent years where ice skating was possible on canals in Amsterdam and where record snow fell in the Sahara, Menorca, Japan, Texas, Arizona and the Eastern Seaboard of the USA.
Cont …..
Another benefit that the company achieved during the negotiation was to pay an Income Tax rate of 20%. Before the agreement, the rate was going to be 25%. The next steps With the agreement of the exploitation terms signed, the next step will be to sign an exploitation contract. That is expected to happen in a couple of months, SolGold president Scott Caldwell said. But for Ecuador's largest copper mine to go into production, SolGold must first have the environmental license granted by the environment ministry, after carrying out an environmental consultation in the communities living in the project area. Also read: Investments for USD 392 million for two mines are delayed This consultation should be carried out in the Lita and La Carolina parishes, in the Ibarra canton, which is where the concession is. Caldwell explained that there is still no scheduled date to start this process. In Cascabel, it will not be necessary to carry out a prior, free and informed consultation in the communities -a mechanism provided in the Constitution for activities of extraction of non-renewable natural resources-, because there are no indigenous or ancestral communities in the area, Caldwell said. However, the president of SolGold assures that, due to the magnitude of this project in Ibarra, the most important thing has been to start, from now on, the processes of rapprochement and connection with the communities in advance of the construction of the mine. Uncertainty in the mining sector Caldwell says that the political uncertainty ahead of the anticipated presidential elections, as well as the problems of illegal mining, have not discouraged the company from continuing with its investments in Cascabel. "Regardless of the party that governs, I believe that we will be able to continue with the project. Ecuador has not stopped being attractive for investments." Scott Caldwell And added that "the company has around 90 concessions in the country, but now we are focused mainly on Cascabel." However, the company also secured a mechanism to protect its investments. In the agreement signed with the State, the company managed to establish a "mechanism to correct any economic imbalance for the mining concessionaire", resulting from changes in taxes, laws and regulations in force when the parties signed the agreement. "The provision removes a significant amount of uncertainty about the economic regime that will govern the project in the future," SolGold reported. In addition, the agreement establishes other investor protection rights, such as a dispute resolution mechanism through international arbitration.
To make use of this content, cite the source and link to the original article in Primicias.ec: https://www.primicias.ec/noticias/economia/mineria-solgold-cascabel-contrato-arbitraje/
Minera SolGold secures a 33-year contract, sealed by international arbitration Author: Evelyn Tapia Updated: 1 Aug 2023 - 5:57 The Australian miner SolGold will pay, from 2025, some USD 75 million in anticipated royalties for the exploitation of copper in the Cascabel project , out of a total of USD 968 million. Solgold technical staff carry out exploration work. - Photo: Courtesy Solgold. The Australian company SolGold will invest between USD 2,700 and USD 3,000 million to build the Cascabel copper mine in Imbabura, which is projected to be the largest in Ecuador, the president and CEO of the company, Scott Caldwell, told PRIMICIAS. According to Caldwell, with the copper and gold reserves that have been found in the area, Cascabel could even be one of the 10 largest mines in the world. The investment projected by SolGold is almost four times the amount of Foreign Direct Investment that Ecuador received in all of 2022: USD 788 million. Also read: Foreign investment increases 22%, but does not reach 2020 levels The Ministry of Energy and Mines expects that these resources will arrive from 2025, when the Australian company begins to build the mine; a process that will take five years and will require 3,700 direct jobs.
Thus, Cascabel, which will be located in the Ibarra canton, would start production in 2030 and would be the third large-scale mine in Ecuador, along with Fruta del Norte (gold) and Mirador (copper), both located in Zamora Chinchipe, in the Amazon. In Cascabel, the main material is copper: reserves of 9.9 million tons are estimated. But, it also has gold and silver reserves. The technology that SolGold will bring to Cascabel is not new in the mining industry on a global scale, but it will be new for a market like Ecuador, which started large-scale mining in 2019.
During the operation of the mine, SolGold estimates that some 1,000 jobs would be generated. The agreements between SolGold and the Government On July 19, 2023, after almost seven months of negotiations, the Ecuadorian State and the SolGold mining company reached an agreement on the terms and conditions for exploitation in this deposit. The first agreement was that the exploitation contract in Cascabel will last 33 years and may be renewed. SolGold agreed to pay some USD 75 million in anticipated mining royalties to the State, out of a total of USD 968 million expected. The first USD 25 million will be paid when construction of the mine begins. The other USD 50 million will be paid in two parts, over the next two years. It was also agreed that the company pay royalties of between 3% and 8%, depending on the price at which the refined metal is sold, be it copper, gold or silver.
Https://twitter.com/marketplunger1/status/1683544944537903132?s=46&t=XX3-iZapJ1HaXMFlnE7nKQ
Every journalist has a bias, so no one should read a single news source. There are lots of weather stations though, and ones placed next to each other tend to agree. That's called consensus, sluggy 👍
You're famously good at sticking to solg, so we will see how long it lasts before you're posting demonstrable nonsense on a new topic you don't understand 🤣
Kat embarrassed himself posting similar nonsense to you poppet. Claimed temperatures measured at weather stations weren't true 🤷♂️ As if they were part of some kind of conspiracy 🤣. Absolute madness, but that's what you conspiracy theorists enjoy. Meanwhile, in the real world...
I'd be careful of getting into numbers, slug. Remember you couldn't find a number in the 40s a few days ago, and then had to run to teacher to spare your blushes when I did... People in glass houses shouldn't be morons.
Not sure they've heard forts claim that Lasso is going to announce the multi million dollar deal with solg just before the election.
Funny that.
Or it could be the infesters have a point.
And solg are up sh**t creek.
Not sure the market has heard how transformative this website update is going to be
Jezzoo I don't cherry pick information.
I make sure what the company says is understood.
I lately agree with addicknt on we require more clarity.
Quady, everyone posting here is cherry picking the information available to suit their world view.
And that includes me and you ole partner.
Highflyingman you are only picking the parts of conversation that suits your world view.
Solgold are mine finders.
However a JV would be the mine builder.
That's the message which is constantly reported by the company.
It is unambiguous.
DM Solg have tried for over 2 years to enter a JV with the regionals... We were told waaaaay back, parties were doing their due diligence on this.
For whatever reason, Solg have never been able to clinch a deal with any interested party.. We can only guess as to what the reasons may be... as we have never been updated on the matter. My personal opinion is maybe these tenements are simply not as great as Mather pretended they were, and parties have discovered this during DD and walked away..
Smickster wtf does this paragraph mean in your post.
"You think we were prices at 50p in the last couple years so I think you need to do a bit of research yourself."
Don't think I'm important. Also dont repeat the same unsubstantiated tripe daily. Even after the facts have been pointed out to you
You filtering me makes no difference to the fact you need to do a bit of research before you post.
Smickster you're committing the sin of thinking that NAL is a real person who's musings make a difference here buddy, and acting like a person who gives a phuck about what they post, they are nothing but a 🤡 but at the least mildly entertaining.
ONWARDS & UPWARDS!!!
Italian, you may well be right.
DM, given the political climate I think it's wise not to spend any more cash on the regionals. I suspect we'd never get beyond a few drill results. My view is that we're effectively a two trick pony; Cascabel and Porvenir. I accept this may be a simplistic view, but I also suspect we have many concessions in our portfolio that will quietly disappear.
NAL you obviously think your important.
You have nothing to offer and so I pay no attention to what you are saying.
We are a $ 500 m company with a tier 1 asset.
You think we were prices at 50p in the last couple years so I think you need to do a bit of research yourself.
Anyway no time for sc@m so In the bin you go with all your other aliases.
Hi DM …. Who knows
Still expecting to see it this week
I don't see so much contradiction to be honest.
The intended strategy has never changed in my opinion, as in let's tell the market we are going to develop but of course if the right offer comes through we will consider selling.
What has changed, gain in my opinion, is that where NM went for the bigger resource numbers in order to attract the prospective buyers but did not actually advance the project because he overestimated the buying interest, SC is doing the practical things that had to be done in order to make the project sellable.
Of course they want to sell and monetize, but equally until a buyer shows up they need to advance the project in case a different financing solution needs to be put in place.
Plan A and Plan B have never changed in my opinion.
It's quite interesting reading this board, depending on what the poster wants from this company, the same information produces fifty different conclusions.
And none of them have happened yet.
Smickster you obviously are out of your depth, so smickster ref my last post. Hopefully it will sink in. I will post again why bhp, don't give a flying f**k about losing there investment in solg..
"BHPs Buying Program invests A$500 million with small businesses"
Many of our other investers do the same.
Research, smickster. Research before posting.
Add, solg are not going to build a mine at cascabel, and they never were. Our drilling rigs are too narrow bore. It would take forever. I guess some of the local workers could have a go with their own tools, but it seems more likely they'd get actual mine builders to build it 🤦
Smickster I posted the other day just for you. Big mining companies invest in many many exploration firms. They figure that many will lose them money, but the odd one will come good. Are you unaware your making a fool of yourself by keep repeating this wrong assertion
Paul, thanks for posting. This interview probably gave us more detail than we've ever had with regards to what's actually happening on the ground and with governmental discussions/negotiations, so it was helpful.
But, as ever, the real interest lies in what was not said. SC has made some significant steps and has a clear idea of how the resource should be developed and mined, and that's certainly better than anything we've had previously. However, and to employ the over-used phrase, there's a massive elephant in the room - how are we going to achieve this?
As it stands we are still in the situation of having to interpret two completely contradictory statements; 'we are not mine builders' versus 'how we intend to develop Cascabel'.
SC is treading a very careful line and is more comfortable talking about the day-to-day stuff than anything strategic - for obvious reasons. But one will simply not progress without the other and time is of the essence. It's time to put some meat on the bones of the SR.