Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Communiqué Chamber of Mining of Ecuador
At a crucial time for the Ecuadorian mining industry, President Daniel Noboa Azín led a series of strategic meetings during the World Exploration and Mining Convention in Toronto, Canada.
In collaboration with the banking giant BMO, a meeting was held with investment banks interested in Ecuador.
At the meeting, which was also attended by authorities and partners of the mining companies of the Chamber of Mining of Ecuador, the president commented on the conditions in which he received the country, the lines of government, the ways in which it is facing organized crime, and the plans to make Ecuador a safer country and thus more attractive to investments.
After the meeting and with the presence of the ministers Andrea Arrobo, of Energy and Mines, and of Production, Foreign Trade, Investments and Fisheries, Sonsoles García, the signing of six investment agreements was carried out that represent a joint value of more than USD 4.8 billion, which represents an unprecedented milestone for our country and reflects the transformative power of the mining industry.
This signature represents a testimony of the mutual interest of both the Ecuadorian State and investors in developing sustainable and responsible mining projects.
The investment commitments were made through notable projects in the mining industry.
Among these projects are: Cascabel, led by Solgold and signed by Scott Caldwell; Crabs, by Lumina Gold, represented by Marshall Koval along with Diego Benalcázar; La Plata, from Atico Mining, subscribed by Alain Bureau; Cóndor, by Luminex - Adventus, signed by Álvaro Dueñas; El Guayabo, from Torata Mining, under the signature of Sergio Rotondo; and Bactech with representation by Ross Orr.
These collaborations represent a significant commitment to the growth and sustainable development of the mining industry in Ecuador.
These agreements not only lay the foundation for future negotiations, but also demonstrate a shared commitment to economic growth and job creation, while addressing concerns about environmental and social sustainability.
Ecuador's participation in PDAC 2024 not only marks a milestone for the convention, but also establishes a new chapter in the sustainable development of the country's mining industry.
Pbow, thanks for the link.
The details are going to be very interesting. Does this imply a new IPA, or will it relate to more specific investment plans? The article yesterday said that there will be no expenditure implications for the government, so one has to assume that in return for this commitment we will be given various assurances on licences and protections.
At long last it looks as if real progress has been made. Fingers crossed, chaps.
Here is an image of Scott signing something
https://x.com/ByronBayGold1/status/1765250191756501040?s=20
Morning all interesting times indeed.
And all those who said Scott was sitting on his hands and achieving nothing may now have to hold their hands up.
Those 30m options might well look cheap again soon .
Bingo! It is the IPA.
Just the minor issue of us having to find $3.2bn over the coming years.
OK, I apologise. But, then when you see your very hard earned cash disappear having invested into "A No Brainer Investment", there have to be times you feel very aggrieved! I now I am but an amateur at this and took a punt!
We are NOT there yet!!!! El Dorado!
Oh well, I guess that means the finance has been sorted, and why we have two new finance guys.
We do appear to be moving a little faster.
I'm thinking of becoming a citizen of Ecuador so that I can vote for Nobby at the next election. Seems my prediction on Friday was spot-on.
DBW, I suppose we mustn't crow - oh, hang on - why not?
Q, wherever we sit on the production argument, this is great news and will hopefully lead to far more market confidence.
Wish...your hard earned cash doesnt disappear unless you sell before monetization is achieved...
2.9m at 9.5 average and patiently waiting...good luck.
I agree addicknt.
Well done Mrprt...that's a significant wedge. Keep in touch.