Firering Strategic Minerals: From explorer to producer. Watch the video here.
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The Cascabel project, located in the province of Imbabura, which is in the advanced exploration phase, has begun dialogues with authorities in the area to publicize the project. Thus, this week the mayor of the Ibarra canton, Álvaro Castillo, held a meeting with Luis Mario Sánchez, vice president of the SolGold company and his technical team.
According to a statement from said Municipality, the meetings aimed to “articulate actions to carry out projects that, through royalties, allow the local economy to be energized, with the creation of sources of employment for the population located in the area. of influence, in this way it will be guaranteed to improve the quality of life of the citizens of the Ibarra canton.”
These days there has been a very conflictive process in the Palo Quemado and Las Pampas sectors, which are located in the Sigchos canton of Cotopaxi, due to a mining consultation issue regarding the La Plata project. This Ibarra project is in another more advanced phase.
María Isabel Ayllón, a lawyer who is an expert in mining issues, explains what stage Cascabel is in and when it is time for citizens to consult:
This large-scale mining project is currently in an economic evaluation stage, to verify the technical and economic viability of the project.
This will lead you to establish a proposal to sign an exploitation contract with the State. It will be at that time that an environmental consultation process must be carried out in the area to obtain the environmental license.
According to Ayllón, the law is clear in indicating that environmental consultations are carried out when projects begin or when the phase is going to change. In this case, the new consultation corresponds due to the change in phase, since it would move to exploitation, which means the construction of the mine. Construction can take about five years.
The project already went through a first consultation or citizen participation process before 2008. She also explains that since it is an area where there is no indigenous population, the figure that must be applied is environmental consultation. Prior, free and informed consultation is applied when it comes to sectors inhabited mostly by indigenous people.
For its part, Cascabel confirmed a few weeks ago that the company SolGold, which is carrying out the project, will require an environmental impact study (EIA) that will be aligned with the best international practices applicable to the mining sector. “We are deeply committed to managing our carbon footprint and to the efficiency of renewable natural resources,” highlights Scott Caldwell, CEO of SolGold and president of SolGold Ecuador.
He also pointed out that innovative proposals will be integrated to care for the environment, and a diversification plan for renewable energy sources for the project, to be supplied by both the public sector and private enterprises.
Cont …..
“Cascabel is a promise of responsible mining and lasting value that will leave a sustainable legacy. With lower capital needs, lower risk and our commitment to sustainability and responsible mining, it will become a story of innovation and prosperity for the country,” concluded Caldwell.
For its part, Cascabel has confirmed the economic viability for development and financing through a pre-feasibility project. According to the document, the first investment phase for the development of the project, of $1.5 billion, involves an optimization of more than 40% of resources compared to previous estimates. The project is expected to produce 2.9 million tonnes of copper, 6.9 million ounces of gold and 22 million ounces of silver over the first 28 years of the mine's life.
With lower capital requirements in the first phase of development, this underground copper, gold and silver mine shows favorable results due to the implementation of efficient strategies with cutting-edge technology. The construction of the Cascabel project is planned in two phases, with the aim of optimizing resources and accelerating construction and development time. In this way, production is sought to be more efficient and technical risk is also reduced, thanks to the implementation of cutting-edge mining production technology and methodology.
The project is carried out by SolGold, through its subsidiary Exploraciones Novomining S. A. (ENSA).
The current plan contemplates the exploitation of 18% of the mineral resource, which suggests a useful life of more than 75 years, turning it into a multigenerational mining asset capable of multiplying economic and social benefits.
Additionally, the new study identifies a new opportunity for additional development with the Tandayama – America (TAM) deposit, located approximately 6 kilometers northeast of the Alpala deposit. This alternative is not currently part of the PFS; However, the company is evaluating it for the future. (YO)
Cheers DBW
Atb
DBW, thanks, good find.
I note the article says we're still in the economic and technical viability stage - I think we've moved beyond that.
Thanks DBW!
Still feels like a dawn that never seems to stick it's neck out!
Woke up at the crack of dawn this morning
I said Dawn, get off my face
Funny thing.
I would of thought ecuadorian special forces breaking just about every international convention by ordering armed special forces to
Storm a foreign embassy, and drag someone out, who had legitement asylum status.
And by there actions bringing international condemnation upon themselves by every south American country and most of the rest of the world.
Would of been worthy of a mention.
Bearing in mind were invested in that country.
Do you thing maybe the biast bbc have made another mountain out of a mole hill.
Or should we do an ostrich, and pretend it didn't happen.
Sell your shares if you’re concerned
It’s really simple
QUITO, Ecuador — Mexico’s government ended diplomatic ties with Ecuador after police broke into the Mexican Embassy late Friday to arrest a former Ecuadorian vice president, an extraordinary use of force that shocked and mystified regional leaders and diplomats.
Do we think. This sort of illegal act, will make potential investers consider there position.
Do we think this is the sort of thing we should be debating.
Instead of daily preaching to each other how well solg are doing, how soon we will all be rich, who has the most contacts.
And who has the directors ear, either by phone, email or coffee shop.
Surely, surely, somebody will post this sort of thing is not ideal.
Then maybe not, this is the solg board
1984, why sell. I'm confident of making a modest profit.
I'm simply stating, we should debate all solg and Ecuador news. Not just the supposed positives.
And surely yesterday's news is more relevant to solg than.
Margerat thatcher.
Dgp
Heat pumps
Climate change
Electric vvehicles
Your castle
Your university degree.
Your skill in car park fighting
Immigration
Refugees
Share dealing.
Need I go on, to prove my point.
Needalife …..I think your name requires no further comment
Debate it then, nobody’s stopping you! If people are interested then they’ll comment
Storm in a teacup IMO, Mexico are totally irrelevant to us as is the rest of Latin America bar possibly Brazil
If there’s a panic or dip tomorrow I’ve got another £20k in fresh isa allowance at the ready
1984. Oh the irony.
You've just made my point, far better than I ever could.
People won't comment.
Why not. Because it's negative news.
Some clown will claim to be the other end of the phone to illegal inside knowledge.
And 28 people will talk all day..
Bloody hilarious.
Sounds like the forum isn’t for you then
A forum is a meeting place for discussion.
This is a meeting place for a dozen or so posters who are about to lose a fortune.
Who close down discussion unless it's something they can cling onto, to keep alive there insane dream of £1 a share.
And some in there desperation have lost touch with reality.
A forum, it is not.
Needy, are you related to EricEric perchance?
Needalifes post is very interesting. It clearly shows to me someone who is not just here to pass the time, but someone who has a real agenda.
He reminds me of Eric Eric in the old 3p days that seemed to last forever. He was gone and never heard from again here, once the march to 46p started.
You have to wonder why they post constantly.
I can only give two possible explanations
1 they are purposely trying to crush the price.
2 they are very disturbed individuals.
Well EricEric was certainly at his darkest just before the dawn when we suddenly set off towards 46p from that 1.5p - 3.0p range. I was very in over my head back then and only bought £200 instead of a potential £800 that month. I was rattled. Much to lament in the following year.
With that in mind, Needy’s gloom buoys me up with fresh hope. Funny old world. Keep it up old boy.
This BB never ceases to be a source of fun and entertainment even more so at the weekend when clearly a certain few need to earn their money generating posts = advertising revenue 😂😂😂
And many still entertain them 🤷♂️
Monte, your second point covers it.
Guys, this Muppet think that we only need to start worrying if Mexico moves its military/navy to invade Ecuador. Until that happens, its businesses as usual.
Are you worried, Eloro?
Add, I am not worried about Mexico attacking Ecuador. We have bigger worries with Scott at the helm of Solg. Things will get dragged out forever while he gorges himself at the trough.