Member Info for Gino73

arsenal58 - re your 07:59.
Perhaps we should refer to him as 'quandary' henceforth!

Whilst the grades would be less than impressive on a stand alone mine basis, TAM benefits from being within a 30 min stroll of the infrastructure and mining plant for which the costs have already been applied to Alpala. The same applies to Moran. One wonders just how big these linked deposits are going to end up being.
Would love to be a fly on the wall if some company rocks up and tries to convince Darryl, Mather et all that Cascabel isn't worth much!

The spot price of Cobalt fell from it's year's high by 8% yesterday, having been steady for 2 months.

Me again, soz! Noticed a couple of posts about others being criticised for posting with what was deemed an inappropriate 'opinion'! I have to confess that I pretty well never adjust that tick box , concentrating more on my post and thus leaving it at the default 'no opinion'. Perhaps a little more tolerance here guys?

I've had many of the 'idiots/rascals/s**t stirrers on filter for a good long time and I would like to think I'm better off for it. Certainly it takes less time to read this BB!
However, as a result, my BB has loads of these green 'bands' across it and was just wondering if green was an appropriate colour. I'm most certainly not of the 'green' consensus, bit we all know that many think 'green' is good. I was wondering if perhaps admin could colour them a more appropriate colour - grey perhaps, to reflect their dismal efforts. Just a thought while we wait more progress and 'blue' prices!

One must assume that the incoming CFO has performed her own 'DD' on SOLG and finds the risks/rewards of employment here to her satisfaction.
Have to say it's about time we had the appointment and I wish her well.
I'm more relaxed today than I have been since the PFS arrived.

Part 3
How much employment have they generated so far?
As of April 2022, SolGold's total employment is 783 employees; 98% is Ecuadorian talent. Meanwhile, the subsidiary company ENSA (in charge of the Cascabel project) has 409 employees, of which 341 are local. That is, from the area of ??influence of the project.
An issue of concern is, for example, the environment. How are you dealing with it?
For example, we use the water from the area of ??the springs; Before returning it, we process it in water treatment plants so that it has adequate characteristics, if not better, than the ones it had. Likewise, when we drill, the water is recirculated. This reduces its use and, in the end, we return it treated. In addition, we teach the community itself to be overseers of water treatment. We have a trained community group for this.
Do you plan to train people from the community to be mine technicians in the future?
Our goal as soon as we get to production is that we have trained technicians from the area, from the province. Our activity with the Ministry of Education has been to encourage young people who are in high school to go to technical schools to develop skills, so that they will be the ones who manage the mine plant in the future.
When will it come to the stage of community consultation and socialization?
The community must be informed in the environmental impact study. Socialization must be done so that the people understand what we are doing. They have the right to ask and receive adequate answers to their concerns. Regarding prior, free and informed consultation, this corresponds to areas that have indigenous communities, that is, to ancestral areas. It is important to clarify that the obligation to make the consultation is not the obligation of the company, but of the State. (I)
Translated on Google Translate .
G

Part 2
Was the volume of minerals already known before? What is the final data?
In the original study we indicated the estimated amount of resources. This is: 9.9 million tons of copper, 21.7 million ounces of gold and 92.2 million ounces of silver. Now, refining this, for more detail, we focus on an area in the center of the deposit. And it is defined that we are going to use, in this case, 3.26 million tons of copper, 9.37 million ounces of gold and 30 million ounces of silver. The idea is that with the $2,700 million of investment we reach this production as soon as possible, in order to generate a recovery for investors and that the country also receives the income, which can be used for the work of the social sector. This also guarantees the subsequent use of the resource in future stages or even in parallel, with the same infrastructure.
This mine is one of the largest in the world. How can its importance be understood?
With this latest resource utilization data, the mine is in the top 20 in the region. It is a copper deposit, with gold and silver credits, which has a production projection of 30,000 million in 25 years, which means a tremendous boost for the economy of Ecuador. It should be noted that the production of copper is of absolute importance to combat global warming and not use fossil fuels. Cascabel is the largest potential mine in Ecuador.
What was the factor that influenced the mine to be underground? Perhaps to generate less environmental or visual impact?
The physical style is what determines it to be an underground mine. The deposit is 1.5 kilometers deep, it is not immediately on the surface. Its long-term development must be underground, there is no option on that.
When will the royalties arrive or what are the most immediate benefits for the treasury?
In the development of any mine, royalties come from production, because a percentage of between 3% and 8% is calculated on the sale value of the concentrate. Mainly they come from the first production. But in Ecuador they have demanded advance royalties, and this is an issue that still needs to be discussed in the negotiation. At this time, we are confirming [an] exploration investment, until December 2023, planned [of] $430 million, and this includes activities in the exploration phase.
How has it been in a topic that is sensitive and a priority: the approach to the community?
At Cascabel we have had an excellent relationship with the community. In the initial exploration stage we have generated employment by hiring labor, transportation; We use a group of women for kitchen work, who are trained in food preparation. We have also supported training in other types of activities, such as exploration, drilling, environmental care. We have worked with the Ministry of Agriculture and the Ministry of Health, especially due to the pandemic.

Andrew Taunton, vice president of SolGold Ecuador, which manages the Cascabel concession, one of the copper deposits that is currently in the top 20 in Latin America, explains the progress of the phases of the mining process. After the pre-feasibility study, it is estimated that the investment for the construction of the mine, located in Imbabura and which would start in 2024, should be $2.7 billion.
The project, which will be an underground mine, still needs to go through several stages, such as obtaining construction permits and an environmental license. The relationship with the surrounding communities has been positive through the generation of employment and the transfer of knowledge.
What has the pre-feasibility study that has just been presented on Cascabel revealed?
This study is part of the mining development. In mining there are several stages: initial exploration, advanced. In the case of Cascabel, we have drilled 310,000 meters in the Alpala deposit. Even if a large deposit has been found, what needs to be done is the pre-feasibility study. This analysis determines if it is feasible to develop the deposit, and considers the need for investment and the percentage that will be used in a first production estimate. Thus, it has been concluded that in 26 years we will extract only 38% of what exists.
After pre-feasibility, what comes next?
After that, you have to do two things: talk to the government, discuss potential future production, talk to investors interested in providing funds. In two more years we must obtain the production license that will allow us, together with environmental impact studies, the start of construction, which would be in approximately 2024.
Construction will already mean a greater volume of investment, is that correct?
According to estimates, some $2.7 billion are needed for construction. This investment figure will lead us to complete the infrastructure to start the production of the mine. Later we will increase, in five years, to the maximum production; for this $ 2,100 million more are required. The latter is to develop the plant to its maximum capacity and have capital to replace equipment during the useful life of the mine, that is, in 26 years. Four to five years of construction are currently anticipated to go into production in 2029.

Kill - https://solgold.us19.list-manage.com/track/click?u=43b63e17ddcb704d17f2f5f3f&id=b7f791e819&e=77e2d904b2

add - apols, it takes me a while to get up and running these days. I'm sure SOLG suggested last year that the DFS was being prepared in tandem with the PFS, so yes, disappointing.
Did like this though - 'The mine is expected to produce a clean copper-gold-silver concentrate, to be sold to Asian and European smelters as part of a project construction financing package.'

add - 'appealing' - I thought stonking!

There's a link on the SOLG site!

Was watching The Big Short again last night and the thought of what's going on with gold did cross my mind a few times!

Gazzleberry - 'I did read it. To get to £1.50 from 50p how many shares would have to bought back. And where would that money come from? My dividends, borrowings, a rights issue? That all sounds about. This donkey will never get £1.50 without consolidation.'
A rights issue? Sell some shares to raise money to buy back some other shares? Gazzleberry, you are a fruitloop!

Skint-Architect (hope I'm allowed to use the word) - 'anyone can call themselves an accountant (that is not a protected title).
they were clever and protected “the job” such that only a CA can audit and sign accounts.'

So what is the difference between them doing job protection and your outfit doing the same, because that's all it is! Your outfit sets it's own standards for entry, protects itself and self disciplines. Much like the HOC now I come to think of it! Disreputable folk, the lot of you!
(BTW , anyone can audit and sign accounts, it's the accounts of certain bodies, ie. plcs etc,
that need a CA or equivalent.)

The reason I support free speech is because I can't trust anyone to make the judgement on what I can or cannot hear or read.

subby77 :-
Q1 - possibly.
Q2 - don't know.
Q3 - possibly.
Best I can do mate! Looks like the neighbours are setting up for a barbie later. They haven't asked me round so looks like I'll have to get the noisy mower out for when they start and forget to turn it off while I come inside to watch the footy and have a few beers. Oh the joys of springtime!

DBW - Crikey, what a photograph at the head of that article! I would imagine that few of us keyboard warriors understand the enormity of scale involved in modern day mining. Many thanks!

FluffyTheCat - welcome back bonny lad! Missed your input!