Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
I don't really understand why people are arguing about who takes Cascabel into production. The important thing for shareholders is its being built, there will be a mine! Whether SOLG somehow finance it (which I doubt, although I think our relationship with the Government is intrinsically linked), whether its a JV, whether Cascabel is sold, or whether SOLG is sold (which is what I think will happen with the new owners keeping the name and personnel), it really doesn't to me. ALL scenarios add shareholder value and that's my one and only concern. To me, just a matter of time.
Roxi I agree. In my opinion the only risk with SOLG was their financial viability. Slashing their burn rate helped but to me, having a recent MOU signed for a Hydro-Solar plant with multiple multinationals to provide additional power to Cascabel, and most notably the confirmation of the $3.2bn commitment to actually build the mine has taken away all perceived risk. You simply do not get the President of Equador changing his diary to not only take the 8 hour flight to Canada but actually stay longer than planned just to sign a flagship history making deal with little SOLG IF he wasn't 100% sure the mine was not 100% funded and would be built. There are very exciting times ahead. 50p-£1 is realistic for this share, sooner rather than later. But, I'd emphasise its just my take on things. GLA.
144,425 more towards my total. That's me done, all in. Now I'll just wait. GLA
A few comments from Noboa's presentation that I thought may be of interest:
*less than 6% of Ecuadorians are retirement age
* the largest demographic is 14-35 year olds
* the unemployment rate of this demographic is 50%
Noboa sees mining as a primary solution to this problem.
* protection of the environment is key
* he wants to streamline all of the interdepartmental delays in mining applications/permits etc into one single group giving rapid decisions
All in all seems really calm and balanced guy, and as pro mining as you could wish for. Let's hope he can drive through the constitutional changes that are required
Thanks for the clarification, apologies for misunderstanding it.
Not wishing to put a damper on the obvious excitement but wouldn't Ecuador have to open the Mining Cadastre before investment was secured and deals are signed off? I may be wrong but I'm not expecting major developments on this as soon as others are expecting it.
Fort the recent Cascabel RNS specifically mentions $3.2bn in the second paragraph.
Noboa is making good progress on the economic front, although still early days.
https://www.ecuadortimes.net/the-country-risk-falls-to-1321-points-what-does-it-mean-for-ecuador/
Just bought another 142,178 and I'll continue to add.
Fort in summary, apart from the exploration agreement, lots of news THIS MONTH.
That aged well. So will it be the Chinese or will Barrick steal the show? Who cares, its getting funded!!!
RE: The Chinese Buying3 Mar 2024 12:44
So Noboa and a strong Ecuadorian delegation in Canada with Scott and Chris leading the SOLG team and various meetings arranged with majors over the next few days to progress Cascabel. I would suggest that if it's going to happen it going to happen now. My money is where its always been, with the Chinese. I don't think they'll get it without a lot of competition therefore I don't think they'll get it cheap, but they have deeper pockets than anyone. Hold for gold (and copper..and silver).
BBG I'm just wondering whether Newmont taking over Newcrest has forced Barricks hand. With Newmont now having double the gold production of Barrick as well as a robust production of copper, maybe Cascabel would be a good strategic response?
Ship I posted an article earlier that stated Barrick were involved in the $4.8bn investment so that would make sense they're involved in Cascabel. Could be a great week, fingers crossed!
Cov As Kenny Rogers once said.
You never count your money when you're sitting at the table, there'll be time enough for counting when the dealings done.
please spare a thought for our resident shorter who's looking to close at low 5's. he not risking getting burnt, he's risking getting ******* fried lol.
Ad well it's 9 o'clock in Toronto so hopefully we'll hear something later today? Fingers crossed!
BBG let's hope so!
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!
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?
Still not sure what the 6 investment deals were for but the attached does state he met with Barrick executives so maybe a clue there?
https://www.primicias.ec/noticias/economia/noboa-mineria-canada-feria-catastro-inversion/