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Https://www.mining-journal.com/leader-interviews/news/1456823/solgold-plans-cascabel-decline
SolGold is advancing plans to permit and build a 3km decline to access its Cascabel copper-gold deposit in Imbabura, Ecuador, as it continues to derisk the project, chief executive Scott Caldwell told Mining Journal.
One minor question; where's the money coming from?
The answer of course, is that it won't be from us. We're currently in the process of ticking every box as we de-risk the project for a third party.
Assuming we get this permit, and since we now have the other two in place it must be a mere formality, we seem to have only three outstanding. The revised IPA and the water and environmental permits. Are there others?
Morning addicknt, this would be the start of construction.
Also we do have the money, it will just mean we increase the burn rate.
Q, I very much doubt we'll be using our current reserves to construct the decline.
I am not so sure.
In the presentation our cash burn of 48 million lasted over 12 months, that is without taking into account the 25 million in shares we hold.
Yet they talk about having funding to the end of this year, so what are they going to spend the extra money on.
Maybe this is it.
Quades - just to let you know, the GGP decline (2800m) cost $360m.
Z
Z, I was going to ask that question, so thanks for providing the answer.
Thank you Zoros.
In that case more news to come on funding in one form or another.
Zoros, can you tell me where you got that number from? $360m seems extremely high for 2800m of decline.
If you back calculate the cost/meter and assume there will be some extra meters because of ventilation access etc. Let's say the total is actually 3600m then the cost would be $100.000/m. This is very high. Even in Australian dollars.
I would assume something more in the 3000 US$/m range + contractor mobilisation costs.
Btw, Havieron's PFS - stage 1 from October 1st, 2021 had an estimated total capital expenditure of A$529 million (US$397 million). $360m out of that for a mere 2800m of decline would not fit that capex number.
Just you wait till we leave aim
Just you wait till irwin comes on board
Just you wait till we join the tsx
Just you wait for the result of 3 elections
Just you wait till the indigenous Court case is settled
Just you wait for numerous rns and feasibility studies and God knows what else reports
Just you wait till those 12 majors see what we've got
Just you wait till we get the exploitation certificate
Just you wait till Caldwell get to grips
Just you wait till the Chinese make a move.
Have I missed anything.
Oh yea, now just you wait till the Arabs take us over.
Can you see a pattern.
J
i stopped listening to the sage advice on this board about 2 years ago , i just pop in now and then to see who is ****ging off who when the sp drops
Just chatting with another investor and speculating whether the new website could either be tied in with some big news or even a revamp ….. maybe a change of name / image ?
Surely not just a rehash of the same old stuff
If they were to announce that they are splitting the business into 2 parts... 1. Exploration and 2. Planned ENSA IPO on Canadian market/dual listed possibly.. then that might justify a complete revamp of the website. May involve a pre sub or invitation to sell your shares in the IPO pre listing to Chinese entity of which likes of Maxit, Irwin and others have agreed pre IPO or during the IPO pricing stage etc etc etc.
Could take several months to sort and complete the IPO.
Something is brewing as like I said.... Ecuador Gov would not be signing over/ cutting the red tape stuff unless they had solid assurances from SOLG otherwise they'd end up looking rather stupid which wouldn't bodes well pre elections. Announcing a billion dollar investment deal prior to elections might well allow Lasso's party or aligned candidates to give Correa's crew a run for their money.
Big UT incoming
Shame slug not here he could talk us through it
But hey at least we get to talk about taking this to production instead
1.069m at 15.8
Was closing well over 16p til last seconds
Hi DM …. Who knows
Still expecting to see it this week