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Yes Redknight the mining.com article got it the wrong way round. I mean who on earth could think that threEcuadorian government would fund a mine...... whilst stating that its not costing the Ecuadorian government any money. Oops you did.
Same the world over, young unemployed basically waiting to be TikTok stars or handed a living on a plate by governments. Reality will bite
Noboa seems willing to advance business which will of course benefit his own family’s affairs
Ned a shyte greetings from the U.K. if you hold you’re in a great position.
Hfh . when I say you appear to have your feet more on the ground ref the news.
l was referring to your earlier post today.
" I may be wrong but I'm not expecting major developments on this as soon as others are expecting it"
not to sure what I miss interperated.
sorry about the spelling 1984. at least I can spell hysterical and wishful thinking. I think
also I don't tell lies to impress
A few comments from Noboa's presentation that I thought may be of interest:
*less than 6% of Ecuadorians are retirement age
* the largest demographic is 14-35 year olds
* the unemployment rate of this demographic is 50%
Noboa sees mining as a primary solution to this problem.
* protection of the environment is key
* he wants to streamline all of the interdepartmental delays in mining applications/permits etc into one single group giving rapid decisions
All in all seems really calm and balanced guy, and as pro mining as you could wish for. Let's hope he can drive through the constitutional changes that are required
I tried googling it and all that comes up is the solg announcement! Does it mean the governments are going to put in 3bill?
I'm expecting two things...
1 A non dilutive funding that will remove all cash worries for at least 2 years...no equity issue and no sale of CGP's former 5%
2 A Conditional financing deal for Cascabel, from either Jiangxi or FNV/Osisko/Wheaton/Trafigura/Glencore etc financing the whole of Cascabel but with no firm commitment to proceed
The latter alone will trigger a bidding war because the majors who are interested do not want SOLG to go it alone with Cascabel which, with the gold price soaring has never looked so viable as it does now...
"SolGold PLC - Ecuador-focused copper and gold exploration company - Signs a joint declaration in preparation of a complementary investment protection agreement with the government of Ecuador. SolGold says in addition to the USD311 million investment addressed by the current investment protection agreement, the complementary IPA there is a commitment to invest a total of USD3.2 billion over the subsequent years. Chief Executive Officer Scott Caldwell says: "The complementary investment protection agreement not only reinforces the protections for our key investment in Ecuador but also symbolizes a deepening of our relationship with the Ecuadorian State. President Noboa's attendance and insightful speech at the PDAC convention were warmly welcomed by the mining community and underscores the significant support of his administration for responsible mining in Ecuador."
PBOW...the article got it completely the wrong way round...
But its still good news because it clearly marks out Cascabel as by far the biggest new project in Ecuador...
So far 11 people disagree with you tiger...
2 posts in 30 days...my case rests...
Is there a special course you go on to learn to spell that badly need a shyte?
Thanks for the clarification, apologies for misunderstanding it.
180 excited hysterical posts.
8, level headed posts seeing things as they are.
Hfh and one or two others on here deserve credit for there level headed approach to the news.
Although it's good news, it doesn't warrant the hysteria displayed yet again on here.
Despite the ridiculous claims of sp manipulation, the money markets, are not usually far out with there assessments.
The sp is still in the 7s.
If only hysteria and wishfull thinking move share prices. If only
My understanding is the Cadastre
Is for issuing new tenements.
Hence none have been issued since its been closed.
I don't see how the mining Cadastre impacts us at this stage for cascabel.
The 1.55 is just the first lump to production but the whole first phase is 3.2 which is was we’re committing to
The reduced initial capex just opens up easier financing and more suitors. Ultimately one of the big faces will still take it though
I would suggest the 3.2 billion refers to the CAPEX plus the OPEX for the term of the IPA.
Not wishing to put a damper on the obvious excitement but wouldn't Ecuador have to open the Mining Cadastre before investment was secured and deals are signed off? I may be wrong but I'm not expecting major developments on this as soon as others are expecting it.
Fort the recent Cascabel RNS specifically mentions $3.2bn in the second paragraph.
The investment amount of $3.2bln is a curious one as you'd think it would be based on the lower capex $1.4bln as per recent PFS. Perhaps it includes the purchase price of Alpala as well lol! That's about 50p based on $3.2bln inc capex spend. Or... it could suggest that the investment protection is based on the larger planned development PFS which of course is only workable by a number of deep pocketed players.
Why $3.2bln protection? Why not $4bln? The message is clear... Alpala is worth at least $3.2bln as a minimum as why else would you protect that level of spend.
That's £2.5bln or 83p a share. Or if based on capex of $1.4 and $1.8bln purchase price, then it's 47p a share. That's just for Cascabel/Alpala.
Porvenir and regionals likely worth another 8p to 10p a share as they stand.
mmm.
1984investor solgold already signed a deal committing to spend an amount which it hasn't. Signing this amendment gives more time as I said. So it's positive.
Https://www.bnamericas.com/en/news/ecuador-signs-historic-agreements-for-more-than-us48-billion-within-the-framework-of-pdac-2024
"In collaboration with the banking giant BMO, a meeting was held with investment banks interested in Ecuador."
"Among these projects are: Cascabel, led by Solgold and signed by Scott Caldwell; "
Above article mentions Solgold and Cascabel directly.... More interesting is the "I'm collaboration with banking giant BMO" ... On balance I'm swaying to the view that investment is sorted also.
If so VERY interesting times ahead and this will relate very quickly.
Pbow why would Caldwell sign a deal to give up cascabel if he doesn’t spend $3.2nd developing it if there was no chance it could be developed or sold?
Further I don't see how Solgold could sign this agreement on the basis of definitive proof of funding without first getting approval from shareholders. Its not definitive proof without approval from shareholders and I don't see how they can get that level of funding without shareholder approval (I may be missing something there).
Again I think very positive news but let's not get carried away.
Noboa is making good progress on the economic front, although still early days.
https://www.ecuadortimes.net/the-country-risk-falls-to-1321-points-what-does-it-mean-for-ecuador/
I think people are missing general politics here. I've been reading lots of Ecuadorian newspapers today (basically all the national ones). They all mention the signing of deals, very few mention Solgold or Cascabel. It's a headline. I can't see any rational argument that this announcement proves funding is secured.
That aside it gives time. My big concern was that we would default on the IPA that is in play and lose Cascabel. That's been kicked into the long grass now.