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Https://www.mining.com/solgold-advances-plan-to-sell-flagship-ecuador-copper-project/
SolGold (LON: SOLG) said on Wednesday it is making headway with the potential sale of its flagship Cascabel copper-gold project in Ecuador, as it has held talks with more than 20 “highly credible” interested groups.
The company, which merged last year with Cornerstone Capital Resources to consolidate 100% ownership of Cascabel, said that at least five potential suitors have already completed site visits. It added there were a number of follow-up visits being scheduled.
Cheers for that..
Https://www.eloriente.com/articulo/la-minera-solgold-descarta-venta-del-proyecto-cascabel/42266
The SolGold mining company clarifies rumors. The Canadian firm indicated in a statement that the Cascabel project, located in the province of Imbabura, has the potential to become one of the most important copper mines in Latin America and that for this reason they have held conversations with companies seeking to invest. in the development of the mine in Ecuador.
These statements originate after a note from a Canadian specialized media that indicated that SolGold held meetings with companies looking for buyers of the Cascabel.
In this context, SolGold clarified that it maintains conversations with investors and financiers “as is natural for this type of projects in the industry” and ruled out a possible sale.
The mining company pointed out that Scott Caldwell, executive director and president of SolGold Ecuador, in a periodic report presented by the company, mentioned the visit of potential investors to strengthen the Cascabel project. “This has given rise to some unfounded speculation and rumors about a possible sale.”
At the moment, the company is waiting for the granting of environmental permits; as well as moving towards the signing of an investment contract. “SolGold will continue its strategic planning committed to the continuity of the Cascabel Project, and the investment in the communities surrounding the project, which is a priority for the company.”
According to information from the Ministry of Energy and Mines, the preliminary evaluation of Cascabel establishes four scenarios for mineral production that estimates a useful life of the mine of between 49 and 66 years, using an underground exploitation method.
According to SolGold, the estimated inventory of mineralized material is 2.4 billion tons with a copper equivalent grade of 0.54%. Thus, an annual production of metals in the first 25 years is estimated to be around 207 thousand tons of copper, 438 thousand ounces of gold and 1.4 million ounces of silver.
That makes no sense.
So we've consolidated ownership of the project just to let someone farm or earn in?
We're rationalising the work force just to take on an incredibly complex build?
If that article is correct the we all better brace ourselves for a rough landing.
Agreed Rodney in fact another royalty deal could fund our end of a JV if we can get this up and running as a high grade gold near surface level open cut on the decline.
Https://www.eloriente.com/articulo/la-minera-solgold-descarta-venta-del-proyecto-cascabel/42266
The SolGold mining company rules out the sale of the Cascabel project
The firm clarifies that it has held meetings with investors to obtain financing
01/11/2023 El Oriente - Editorial
The firm clarifies that it has held meetings with investors to obtain financing/ Photo: courtesy Minería SolGold
The firm clarifies that it has held meetings with investors to obtain financing/ Photo: courtesy Minería SolGold
The SolGold mining company clarifies rumors. The Canadian firm indicated in a statement that the Cascabel project, located in the province of Imbabura, has the potential to become one of the most important copper mines in Latin America and that for this reason they have held conversations with companies seeking to invest. in the development of the mine in Ecuador.
These statements originate after a note from a Canadian specialized media that indicated that SolGold held meetings with companies looking for buyers of the Cascabel.
In this context, SolGold clarified that it maintains conversations with investors and financiers “as is natural for this type of projects in the industry” and ruled out a possible sale.
The mining company pointed out that Scott Caldwell, executive director and president of SolGold Ecuador, in a periodic report presented by the company, mentioned the visit of potential investors to strengthen the Cascabel project. “This has given rise to some unfounded speculation and rumors about a possible sale.”
At the moment, the company is waiting for the granting of environmental permits; as well as moving towards the signing of an investment contract. “SolGold will continue its strategic planning committed to the continuity of the Cascabel Project, and the investment in the communities surrounding the project, which is a priority for the company.”
According to information from the Ministry of Energy and Mines, the preliminary evaluation of Cascabel establishes four scenarios for mineral production that estimates a useful life of the mine of between 49 and 66 years, using an underground exploitation method.
According to SolGold, the estimated inventory of mineralized material is 2.4 billion tons with a copper equivalent grade of 0.54%. Thus, an annual production of metals in the first 25 years is estimated to be around 207 thousand tons of copper, 438 thousand ounces of gold and 1.4 million ounces of silver.
Well said Rodders …. Nail on the head
Good grief Rodney! Don't you know you're not allowed to point out the truth?
Of course there are, but lying is a completely different matter, particularly if a disgruntled shareholder decided to take legal action with an accusation of misleading statements. I guess you understand the difference?
As for your non-shareholding status, I find it incredibly strange that anyone would waste their time posting about a company in which they have no economic interest - in fact, it's bloody weird. Still, each to their own. And btw, please don't think you're engaged in some holy crusade to educate us holders - we really don't need it. In fact it's simply tedious in the extreme.
Just to clarify, Solgold has sufficient cash to fund its operations until the end of June 2024. In addition, it owns approximately 180 Solgold shares as a result of the merger with Cornerstone. A number of parties have expressed interest in these shares but the Company does not wish to sell them for now. Also, Franco Nevada have made it clear that they are open to discussions for another royalty agreement as and when. Solgold has no difficulty funding itself.
Addicknt
Surely even you must know, CEOs have a habit of putting positive spin on anything they say about their company!
Oh dear are we going down the “ you’re not a shareholder “ route.
It’s lucky there are holders here who can see how poor this company has performed over the past 6 years since qalibashi tried to get me to invest.
I said the same bs k then as I would say now and if anything the share has got more risky the only thing that has changed is it has dropped 80%
Tesla, so the company are lying? I would suggest you put that accusation to them at the AGM, but you're not a shareholder, are you?
What assumptions was I making about you?
I was asking a genuine question based on your 11:13 post.
It didn't need deflection but I understand if you'd rather not advertise your inner workings on here.
Fort, the ease with which you just throw out statements like this…
“When this story looks odds on to end very soon with a transaction or deal of some sort. They may as well hang in there.”
So you are saying there is more than a 50% chance this will be sold very soon.
You may turn out turn out to be right but can you please explain how you are able to claim this, and what is the actual proof?
All I can see is the board are in very precarious position and the company will be running out of cash by mid next year, and probably the most worrying part is the fact nobody is building a larger position at these low levels.
But no sir from that you deduce it’s odds on there is a buyer or several.
Nobody on this BB has yet to show the compelling event that makes a sale imminent. All that is ever claimed is that it suits stock holders or the guys with options.
Nothing about the buyers other than complete speculation.
What has the market missed here other than a company that seems desperate to sell?
Why thank you Bozi.
You make assumptions about me and I'll make assumptions about you.
There's more than one way to service a Maestro.
Popular Mechanics shows us this
Putin, it is completely irrational to replace something bad with something far worse
Einstein was wrong Neils Bohr was correct you can do the same thing over and over again and expect different results.
Quantum Mechanics shows us this.
Nice swerve Jezzoo.
By the way, they’re a very boring investment but one term gilts are a screaming buy at these rates. I doubt we will ever see them again
The gilt market will dry up and the Bank of England will step in and buy them and round we go again.
Then they’ll replace it with longer gilts at much lower rates, who will buy those? Good question!
I don’t have a political agenda to “suspend”, I called out zero rates in 2008 and my bank manager laughed in my face and made me sign a disclaimer to have a tracker mortgage. Few could see it then but I could.
We have been spending beyond our means as a nation now for decades on end and it’s time to cut our cloth accordingly. That means slashing public spending and chasing growth by lowering taxes like Ireland did.
And we must end immigration, not only has multiculturalism just failed spectacularly, we simply can’t house and feed the world with our ever dwindling “wealth”
Crash, rates to zero, start over. Mark my words
Been listening to redknight and the colonel and 5k more at 9.09 this morning average 12.4p now !
If that's what you want Bozi fair enough.
If I knew the answer to the UK's problems I'd be the only one for sure.
So how do we fix it Jezzoo?
Elect a far right government that is going to drive half the country into the ground and let the other half, their half, muddle on through?
I'm assuming Braverman, Badenoch and Co?
Telsa. When I posed the same question.
Adikt shot back, and told me scotty boy wouldn't lie. If.scotty says the data room is packed. Then it's packed.
Is adikt and Co desperately ramping.
Or are they just one share gullibles.
There must surely come a point when they realise they've been made fools of
What you have had is BOD implying everyone and their dog is in the data room running over the figures……..what did you expect to happen when 6 months elapse and the only thing that has happened is the data room has got even more crowded …….
There is only so long investors who aren’t as emotionally tied into this share, as you, realise it is just BS designed to keep posters like you hanging on in the hope you can get out of this dump by gambling