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Also medi. Humor is obviously lost on you. I was pulling novices leg regarding his use of emoji. Pointing out that's what a 9 year old does. Obviously over your head
There is an article in the northern miner on Solgold dated May 16th 2023.
It explains that Solgold is looking at financing and constructing Cascabel.
I cannot display it as I have used up my free articles for the month.
Really worth a read.
This is the aim of the strategic review.
Good morning SharketMare.
That was the whole point of the recent Rick Rule talk on which addicknt and I discussed.
We may even need to show we can raise the finance.
I don't know the situation on that.
But Rick Rule said we need to raise the money and no bid this year.
Q I was engaging in good faith, what you originally posted wasn't right.
As our CEO has publicly stated "we are not mine builders" I hope that the granting of the exploitation license isn't dependent on us demonstrating to the Ministry of Energy that we can build a mine. Because we will look bloody foolish if so!
SharketMare you are being pedantic as usual.
You know I am mildly dyslexic and corrected my statement.
We need to demonstrate we can build and also may have to demonstrate we can raise the money to construct Cascabel.
You however know that.
Q, you said in order to get the exploitation license we need to "construct Alpala". We cannot construct Alpala without the license. End of.
“SolGold plans to provide an update as the various value-adding options are evaluated, and a clearer picture of the future direction of the studies and timeframes emerges,” the company has said in its management discussion and analysis accompanying its 2023 third-quarter report.
Regarding the ongoing strategic review, SolGold continues to evaluate financing alternatives, including potentially spinning out non-Cascabel assets.
Key Contracts, Suppliers and Consultants
Mining Plus (mineral resources and reserves estimates); Knight Piésold (environment, social, tailings and water studies); Wood (metallurgy, process plant and infrastructure, as well as financial evaluation); and Wood Mackenzie (marketing).
Location
Northern Ecuador.
Project Owner/s
Exploraciones Novomining, an 85%-owned subsidiary of SolGold.
Project Description
A prefeasibility study (PFS) has concluded that Cascabel has the potential to be a large, low-cost and long-life mining operation based on achievable, proven and tested mining and processing assumptions.
The mine is expected to produce a clean copper/gold/silver concentrate, to be sold to Asian and European smelters as part of a project construction financing package.
The project has an initial mineral reserve of 558-million tonnes containing 3.3-million tonnes of copper grading 0.58%, 9.4-million ounces of gold grading 0.52 g/t, and 30-million ounces of silver grading 1.65 g/t over an initial 26-year life-of-mine (LoM), with a potential LoM upside of more than 50 years following the initial LoM.
Access to the Alpala underground mine is expected to be through twin declines, starting from a boxcut near the surface and the first lift near the 300mRL. Block cave mining will be applied to the underground resource while all horizontal development will be undertaken using conventional drill-and-blast methods. The vertical development for the main ventilation rises will be excavated using blind sinking methods.
The crushed ore from the underground primary crushers will be conveyed to the surface and fed to the secondary crushing circuit. The product from the secondary crushing area will be transferred to the fine ore stockpile, and subsequently reclaimed to the high-pressure grinding rolls (HPGR) circuit.
The product from the HPGR circuit will be transferred to a grinding circuit comprising ball mills, each operating in closed circuit with a hydrocyclone cluster.
The project is initially expected to produce about 132 000 t/y of copper, 358 000 oz/y of gold and one-million ounces of silver (212 000 t/y copper equivalent), with peak copper production of 210 000 t/y (319 000 t/y copper equivalent).
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at an 8% discount rate, of $5.2-billion and an internal rate of return of 25.3%, with a payback of 4.7 years from the start of operations.
Capital Expenditure
$2.7-billion for the initial cave development, first process plant module and infrastructure.
Planned Start/End Date
Not stated.
Latest Developments
SolGold is evaluating a phased approach to the development of the Cascabel project to reduce upfront capital and shorten the development schedule.
It has also deferred the Cascabel definitive feasibility study, owing to the fluidity of the current capital cost landscape and the ongoing assessment of value-enhancing opportunities.
The company is prioritising capital allocation as part of a reorganisation plan, which aims to reduce costs and headcount, to preserve financial resources while derisking Cascabel.
Probably if the short is not closed from xib
Buy at 13p
Https://www.kitco.com/news/2023-05-18/Copper-concentrate-market-to-face-steep-deficit-from-2025.html
Https://twitter.com/NateGeraci/status/1659364293114994690/photo/1
I8med thanks for concern. I'm a different person away from here. I just have issues with idiots. Believe me she's a lucky girl, in a lucky country. With aucky loving papa
SharketMare I do not have it the wrong way round.
They don't hand out exploitation licenses to anyone.
The whole point is with the exploration licence, we have to prove it up and acquire the required permitting.
To get the exploitation license we need to show how we are going to build it
I am unsure if we also need funding in place to acquire the licence, but it's not as simple as you believe.
I should think the strategic review is considering all these aspects.
A granddaughter @ 9years and you still spend all your time bashing a share. Please dont share this expertise with the little girl. My sincere wishes to her for a much much better life.
"But somehow we require the exploitation license and to get that we need to construct Alpala."
Quady, we can't construct Alpala without an exploitation license. You have it the wrong way around.
Love your use of emojis novice. do you know theres an emoji movie out over here. I watched it with my 9 year old granddaughter. if you get the chance, you should give it a look mate. I think you will enjoy it. also loved how you twisted my name. pretty clever mate
Covgaz we may one day get a buyer.
But somehow we require the exploitation license and to get that we need to construct Alpala.
Until there is a buyer.... which could be Monday week or Monday in 5 years, so relax cov, 🚀
And there is no buyer
Alpala isn't a mine....
Fortissimo well put there exactly
Ecuador was due to go to the elections in Feb 2025. Any buyer of Alpala will know this. Just like they know Ecuador will go into elections in 2029 after that and 2034 and so on. Alpala is a 30 to 50 year mine. Mirador whilst much smaller has been running 'production' during Correa reign in 2019 through to Lasso now. They've not been effected. Why would they?
At end of the day, political is 'heated' in South America but 99% of the time business remains unaffected. Yes, you will get some constant lefty governments upping taxes nominees from time to time but it rarely lasts. Even UK ups taxes on likes of BP and Shell et al when prices are high although to be hints it's lip service stuff and more Storyville headlines for Tories rather than real deliverable action.
For the Chinese, they have a way of being the sugar daddy for Ecuador - it gives them the unique position of holding 'debt' as leverage tool. The chinese would be the best bet for Alpala if you were going on the basis of who would carry the most power with an Ecuador gov. China or BHP or Anglo etc. China wins hands down.
We've had left and right already in Ecuador running the show and it's not effected SOLG at all. The left are pro mining and the right are pro mining. And let's face it, with high inflation and post covid woes... every country out there needs big business to do well and boosters to GDP. Ecuador people want better wages. They want lower prices on day to day items. A new government are going to need loads of wonga coming in if they want to stay in power beyond Feb 2025. So I see the future as bullish for mining in Ecuador on that basis alone.
Never forget that mining industry here is now about 4th biggest earner and contributor to GDP. Any goverment wether left, centre or right would commit financial harrikarri if did not support!
GLA
DK
Looking in from the outside understand a bit of trepidation! Would be interested in any Ecuadorian or ex pat living here views??
GLA
DK