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IN BRIEF: SolGold says Cascabel pre-feasibility study nears completion

Mon, 22nd Jan 2024 13:33

SolGold PLC - Ecuador-focused copper and gold exploration company - Says phased approach pre-feasibility study for its 100% owned Cascabel project located in northern Ecuador is nearing completion. Says it expects the phased approach to demonstrate a lower risk path for Cascabel, with several project optimisations expected compared to the 2022 Cascabel PFS, including lower capital costs. Also reports that its Ecuadorian exploration team has been active this month, making progress at the Blanca-Nieves project, which hosts the newly discovered La Florida target. Says exploration activities are expected to continue over the course of 2024, focusing on advancing new target areas and prospects for new discoveries. Blanca-Nieves is located 10 kilometres north of the Cascabel project.

SolGold Chief Executive Officer & SolGold Ecuador President Scott Caldwell comments: "We continue to progress various initiatives, including the strategic review. Since returning to Ecuador on January 2, I have also had the opportunity to engage directly with government officials and local stakeholders. The commitment from all parties involved has been outstanding, and I am optimistic for the future of the Ecuadorian mining industry as a real driver for economic development."

Current stock price: 7.35 pence, down 4.7%

12-month change: down 55%

By Greg Rosenvinge, Alliance News senior reporter

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