The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Https://www.mining.com/barrick-gold-boosts-stake-in-hercules-amid-takeovers-craze/
There is action in the sector . Our time will come
Well , Anon ; after reading the article a few times via a couple of different translations (both near identical) my considered opinion is that the headline is misleading .
It seems to have largely come from the quote “This has given rise to some unfounded speculation and rumors about a possible sale.”
That quote is ambiguous- I mentioned earlier in a post that a comma after the word “speculation” might have been appropriate
So on balance I don’t think anything major has been going on. Nothing has changed (IMHO of course)
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.
There won’t be a long term , Wildtiger . The new president will have 18 months before they have to go to the polls again ; they’ll want this project moving fast .
I wish my average was around the 13 mark by the way ....
There’ll be action before the AGM . Whose interest is it to have SC replaced ? Will the non BHP “interested” parties want to risk losing out if another Cuzzubbo is installed ? Will any new government want to go back to square one ?
We’re closer than ever to the first bid or corporate action that will start the ball rolling ......imo
I wonder how this conversation went...
https://twitter.com/embajadaecuusa/status/1702427354281472382?s=21
Fort . Brexit had absolutely nothing to do with the EU workforce going home. 6 million chose to stay after 2016 . The numbers leaving then was practically zero. Many Eu workers left because of covid to be with their families; many never returned .
For proof of this look at the transport sector . No problem after Brexit ; major workforce problems after covid...which incidentally led to higher wages for our drivers.
Needless to say this god forsaken government has gone back to mass immigration, low wage policies . Along with high taxation (corporation tax a prime example) they have betrayed everything that Brexit voters wanted
Brexit is not the problem . The pro EU government establishment is the problem
Cheers Mog . We’ve had criticism for our emphasis on ESG from some but it certainly has paid off imo. These days, you need the local population onside . I’m confident that whatever the result of the election the project be moving forward ......
Here is an interesting article on the ongoing debate about licensing in Ecuador. We get a favourable mention ....
https://www.mining.com/ecuador-court-halts-referendums-on-mining-oil-projects/
The author of the Mining Journal article indicates an updated PFS before year end in this tweet
Anyone read the full article ?
https://twitter.com/paulharrisgold/status/1686030763769102336?s=21
You miss the point entirely , Quady
You are attacking one source of information by using another . Rather than disputing the information within the original source
It’s shoddy stuff really ...
Personally I’d never even heard of Sceptic ... I just read the article and judged it on its merits
Which I also do with the BBC.....and I am not impressed with the garbage that ancient and reputable organisation spews out ....