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The future custodian of Cascabel will have deep pockets and will not require the revised ramp-up pathway. If you apply the 2,7b required to develop Cascabel (per April 2022 PFS), and add that to the deals which Yepez wants to move forward (plus recent commitments from Hanco'ck and Barrick), we get pretty much the number confirmed per deals signed off by Noboa in todays article.
La Plata - 250m capex
Cangrejos - 925m capex
Loma Larga - 350m capex
Curipamba - 300m capex
Cascabel - 2,700m (per Aprill 2022 PFS)
Barrick - 100m
Hanco'ck - 120m
Total = $4,745m
And just like that, we found the balance needed to make 4,8B
Released just now:
Adventus Mining Announces the Signing of an Investment Agreement with the Government of Ecuador for the Development of the Condor Project
TORONTO, March 5, 2024 /CNW/ - Adventus Mining Corporation ("Adventus" or the "Company") (TSXV: ADZN) (OTCQX: ADVZF) is pleased to announce the signing of an Investment Agreement ("IA") with the Government of Ecuador for the development of the Condor mining project located in southeastern Ecuador (the "Project"). This important milestone reached between the Government of Ecuador and Adventus provides a foundation for the continuing advancement of the Project towards development and for the negotiation of the Investment Protection Agreement ("IPA") that would be required for future mining construction and operations if the Project reaches that stage of advancement. The IA is a statement of mutual interest between Adventus and the Government of Ecuador, through the Ministry of Production, Foreign Trade, Investment and Fisheries, to negotiate the terms and conditions for a future IPA that is expected to outline the Project´s scope, investment commitments, timelines and responsibilities and to work together towards obtaining all necessary approvals, licences and permits under Ecuadorian law and international standards.
The IA explicitly covers an investment commitment by Adventus, totaling a minimum of US$100M, which includes US$52 million of historical spending made on the Project from 2010 to 2023 and the future investment commitment of US$48 million for the period between 2024 and 2038. The IA also extends to include any additional investments made by Adventus during the period, which would be included for investment protection in the future IPA.
I don't agree on those workings BBG...
Why use the $2.7bn 2022 PFS spend? We've overwritten that with the low-capex PFS.
Also there is an existing IPA in place for the 2022 PFS?
Https://finance.yahoo.com/news/adventus-mining-announces-signing-investment-114500461.html
Careful, NMM. He'll mark you down as a deramper for that post and you'll be on his bin list before you know it.
Would be interesting if Porvenir was included. That would require at least $100m extra spend to get to DFS. Likely a $400m+ capex project but one that would deliver handsome profits due to smaller mine scale and faster pay back.
We know the chinese like Porvenir as it sits within easy reach of their existing infrastructure in south.
Certainly alot of activity around Ecuador right now and some major miners might be feeling left out especially when Gov incentives make the mines more attractive than the likes of Chile and Brazil which have both increased taxes over last few years.
NMM I said a while back Scott would be meeting with Noboa to have high level meetings in Toronto and you would have to say the the amounts quoted for the six deals signed off, it seems highly likely that SOLG are involved, at least in my opinion. I can't see any other way that billons of investment would be reached without Cascabel being involved?
Agree
How long does SOLG have to officially announce this news
Legally, do they have 30 days?
Addicknt - I think I'm already on BBG (and redknight) filter list anyhow!
But still trying to make a factual contribution for the benefit of users of the board.
I agree with you re: it being a more exiting time for Solgold. At least vs. the last 12 months!
HereforHemo - absolutely agree, based on numbers quoted it seems likely Solgold are involved.
The danger with this forum is that facts/statements can be twisted...
I DIDN'T say that Solgold are not included.
I simply questioned the $2.7bn that BBG was including to get to the $4.8bn. It is an old/redundant number now?
30 days???
If a revised IPA for Cascabel, surely this would be classified as material, price-sensitive information and would require an announcement "as soon as possible". i.e. within a day.
NMM I agree with you about the amount, it would be on the revised PFS figure, and yes they'd have to RNS it tomorrow if its actually happened. Its obviously exciting ATM although worth noting that it's pure speculation at this point, although I'm frantically trying to get confirmation!
HFH. Any major groups that intends to be the future owner of Cascabel will not be interested in the phased approach as they have the coin to ramp up immediately and go hard.
If you had our former capex bill to the other notable projects and investments, you get bang on the 4.8b outlined by Noboa.
Hence I believe the revised PFS was a smokescreen to buy time. The time is now.
BBG let's hope so!
Woke this morning expecting to be a millionaire after yesterday's excited chatter.
Bugger me, sp still below 7p,
What do we think is stifling the sp.
Is it the money markets complete indifference.
If so why?
Is it the unrest in ecuador?
Is it, that others have done there own due diligence, and disregard the 4th solg pfs?
Is it because mather is hard to deal with.
Is it because mather took on the big boys, and there exacting revenge?
Is it because we're in mothballs, and even blind freddy knows, it's only a matter of time before we're a distressed sale.
What is it people who matter can't see, don't they read this board.
We've got billions in the ground
As adikt has said, Ecuador is prioritising us and the board under scotty boy are doing a Stirling job.
We've any number signed nda.
The data room has had to build an extension
The Chinese, Barrick, fmg, bhp, newcrest, rio, I even read on here Walt disney, are in advanced discussions with us.
Can one of the many on here with contacts in high places, get people to read this board.
Or better still, give some of us experts on all things a non executive roll on the board.
****
One day fella you'll actually hopefully getalife.
Until you do , just keep making hay here , we don't mind.
A sad situation , hope I don't end up like you.
Good luck old boy.
Need a shyte…just sell your shares and eff off if you don’t believe in the journey. You’re an absolute clown
1984. it's not the journey mate. look at my posts. I'm one of the few on here who understands the journey.
it's the clueless clown passengers on the journey with me that's the issue.
like my grandkids before a camping trip. overcome wiith excitement talking about it before we go. then in the back of the car. asking how much longer every 10 minutes, and squabbling amongst themselves. the elder one knowing it will take time, and the youngsters making up all sorts of reasons why we should have arrived.
I just tell them, all good things, come to them that wait.
and that no amount of wishful thinking alters anything
I won't be surprised if AJ gets sparked out tomorrow night. Worth a punt.