Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Thanks LunchMoney, I think your post probably makes the most sense as it ticks all the boxes, and explains why no RNS was issued.
Has anyone been in touch with the company to ask for clarity/comment on the deputy mining minister's statement?
Morning Addicknt. Your 4.30am post was exactly my thinking when I heard the story. By my reckoning they would have kept about 15% of Alpala or maybe Cascabel/ENSA. Who knows? As you say just speculation which will increase with no news about the phantom CEO.
Q, you really make me laugh. You accuse me of perpetuating a 'conspiracy theory' (it's no such thing - it's speculation) and yet your post on this particular thread states that the build cost is known and there must be a huge reduction in costs. You have no way of knowing that any more than I know the structure of a deal. Who knows, you may be right (I should jolly well hope so); equally, so may I.
What's good for the goose...
Yet another conspiracy theory. If we had sold any proportion of Cascabel that would have certainly required an RNS. Just another post justifying the posters own position, totally without fact.
Why don't we do the sensible thing and wait for an official announcement from the company.
Addicknt, morning yes slip of the tongue ,like many have said where from interesting ,maybe bhp or a consortium let's see ,thanks for info again rcgl2.feel a bounce coming on this slip maybe let's see evangrande look to be getting sorted in China what upset the markets a bit
rcgl, perhaps we've sold a majority holding of Cascabel and will use the proceeds for our share of the development costs? Similarly, in order to allow CGP to monetise their position, they have sold their 15% as well, whilst retaining the holding in the plc.
Interesting that a government minister should let something like this slip - clearly, he should not have done so.
Well yes exactly this is what I'm wondering... Where is this $430mm coming from and how does it fit into the overall funding package for Alpala? As we know the total capex is multiple billions so is this comment implying that Solg itself is contributing this as its own part? How will it get the money?
The quite apparently comes from the deputy mining minister so you would assume he knows what he's talking about.
Comes to mind ,apols typo on phone
Quady if right BHP cones to mind imho
Rcgl2...2.5 billion dollars coming in ?or 340 million dollars ,not sure where your coming from on this or why no RNS announcement
Thank you rcgl2 I do realise that not every bit of news requires a RNS, but I would have thought that the announcement of investment in Cascabel would.
Question is where is the money coming from.
to me it also implies that the build cost is known, and that is a huge reduction in costs.
Looking forward to more news.
Thank you rcgl2.
I can't read the whole article cos you have to sign up. This is what I can see:
Canada’s Dundee Precious Metals is set to sign this month a US$340mn investment contract with Ecuador for the construction of the Loma Larga gold mine.
Government sources, requesting anonymity, told BNamericas the contract is in the final stage of review at the economy and finance ministry.
Deputy minister of mines, Xavier Vera, told radio station La Única that SolGold also committed to invest US$430mn in its Cascabel mine and Lumina Gold US$37mn in the Cangrejos project.
The investments will generate “a boom” of large-scale mines starting in 2023, he said.
Loma Larga, in Azuay province, has production potential of around 200,000oz/y of gold in the first five years, but faces local opposition.
The Cascabel copper-gold-silver project is in Imbabura province. The preliminary economic evaluation defines an initial capital expenditure of US$2.54bn, processing of 40Mt/y, and production of 142,000t/y of copper and 340,000oz/y of gold, during a useful life of 66 years.
And Lumina considers Cangrejos, in El Oro province, one of the 15 most promising independently-owned gold projects globally.
The Mirador copper and the Fruta del Norte gold mine are currently the only large-scale ones in the country.
Sorry quads I wouldn’t know how to copy and paste but if you check out the 13:52 post by rcgl2 you’ll be able to have a read as the feed is within his/her post ?