Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
No other option
Only if larger than 25% I think but I am open to get corrected on that.
RK you saying Solgold shareholder approval. The RNS does not mention any approval required by Solgold shareholders but from Cornerstone shareholders.
RK why has the board not approved a rights issue?
Fortissimo I really enjoy your insights. Think you add a lot to the discussion. I believe however you are off on the capital raise attempt. TheItalian also confirms that Darryl speak about an attempt. And it failed. Obviously Darryl will spin it in a positive way from his perspective. So many things pointing towards that. I agree with Bozi's response to you. Let's hope we get just more than an update on the PFS but more on the funding because that matters a lot. $15m in the bank is not enough given where we are.
That is a risk. The question is why wait until the share price has hit these levels? Why not do it together with the pfs at the time? Also, why not do an add-on royalty deal with FN?
Anyone have the MJ article on SolGold?
rk think you are correct here. Posting my response from previously...................The statement of SG clearly states that SG "has had discussion with its major shareholders regarding possible financing structures and options to obtain funding [......], including a potential equity raise". That reads like corporate language for "failed equity raise".
The statement of SG clearly states that SG "has had discussion with its major shareholders regarding possible financing structures and options to obtain funding [......], including a potential equity raise". That reads like corporate language for "failed equity raise".
Why would they have dropped?
Zoros no idea. Don't know Clarkson.
BHP -6%
ANTO -23%
LUN -35%
RIO -11%
AAL -22%
GLEN 1%
SSRM 1%
SOLG -3%
That's not true Zoros this is a new recommendation.
SolGold Rated New Buy at Clarksons Platou; PT 49 pence
Placing is an option OC but most expensive way to raise capital. Think there are various other options for the company to raise capital especially with the addendum being out. One is obviously to get another strategic in and second are offtake agreements.
DFS is more like Q3 2023 for Alpala. See latest presentation.
SolGold to boost Cascabel potential, test "Warintza" target
SolGold is working to boost the potential of its Cascabel copper-gold project in Imbabura, Ecuador through optimisations and exploration drilling to show its porphyry cluster potential as it prepares to update its pre-feasibility study (PFS), CEO Darryl Cuzzubbo told Mining Journal.
Damers that is just an article after the PFS. Nothing special written.
Cascabel would produce an average of 132,000 tonnes per year of copper, 358,000 ounces a year of gold and 1Moz/y of silver, or 212,000tpy copper equivalent for an initial 26 years in a clean copper-gold-silver concentrate at an initial project life-of-mine all-in-sustaining cost 6 cents per pound following pre-production capital expenditure of US$2.7 billion.
The 25Mtpy block cave operation would have peak production would be 391,000tpy copper equivalent, with the concentrate to sold to Asian and European smelters as part of a project construction financing package.
The project would yield an after-tax net present value (NPV) of $2.9 billion at an 8% discount rate and 19.3% internal rate of return (IRR) with a 4.7 year payback period at base case metal price assumptions of $3.60/lb copper, $1,700/oz gold and $19.90/oz silver. The economics improve to a $4.1 billion NPV and 23.4% IRR at spot metal prices.
"This project is no ordinary mining asset. Cascabel will be a significant, multi-decade and very low-cost producer of copper that can help enable Ecuador's emergence as the next copper frontier at a time when the world needs copper the most as we transition to a net zero carbon emissions future," said SolGold MD & CEO Darryl Cuzzubo.
The initial Cascabel project would exploit a reserve of 558Mt containing 3.3Mt copper grading 0.58%, 9.4Moz gold grading 0.52 grams per tonne and 30Moz silver grading 1.65g/t.
Additional project optimisations are being advanced for a PFS addendum planned for completion later this year, with a feasibility planned for the second semester of 2023.
The Cascabel PFS was several times delayed, most recently due to the arrival of Cuzzubbo at the head of the company, who pushed for optimisations to reduce the initial capital.
The 2019 preliminary economic assessment on the Alpala deposit at Cascabel looked at four mine production cases from 40Mtpy to 60Mtpy.