Given all the data that has been proffered about the size of Solgold copper deposits, has anyone estimated how many years it would take for Ecuador to break into the top ten cooper exporter ranking—assuming production starts no later than 2021?
No I don’t. I asked because I thought it might indicate a change in Ecuador mining politics. I’m thinking that the country might be encouraged to jump start more mining incentives as its economy worsens and the IMF continues to delay full bailout—assuming of course that the Corona V doesn’t impact mining activity for more than a few months in Ecuador and elsewhere, like Peru and Chile.
RE: Anyone want to discuss Solgold?18 Mar 2020 21:47
In Nov 2019, Mining Dot Com ran an informative article on Ecuador’s mining outlook, see extract below. Bear in mind that in October the armed forces put down a nation-wide uprising over proposed IMF required budget cuts. “ The outlook is dubious, however, as Ecuador dollar sovereign bonds were the worst performing in emerging markets on Monday. The tumble came after Congress rejected a reform bill presented by President Lenin Moreno as part of a $4.2 billion financing agreement with the International Monetary Fund (IMF). The inconvenient reality is that if Ecuador loses IMF support, then they lose market access,” Siobhan Morden, head of Latin America fixed income strategy at Amherst Pierpont Securities, wrote in a note.” My casino analogy refers to Ecuador’s perennial instability. I’m just saying that one has to keep up with that reality too.
RE: Anyone want to discuss Solgold?18 Mar 2020 20:22
While I fully appreciate all the posters who focus on the Solgold gaming table and how it’s players and chips are being bet, I also have an eye on the casino itself. In my view, the casino is Ecuador. Its need for billions of dollars of bailout from the IMF makes Ecuador an unstable business environment. The revenue from current and future mining activity is minuscule compared with what’s needed to prevent a total collapse. While this might not be of interest to Solgolders who focus on daily ups and downs, it should be of interest to long term investors. So, I would appreciate hearing from posters who do have an interest in Ecuador’s future as a factor in Solgold’s future.
Assuming that the chaos will subside someday and that economies will recover, I’m still thinking that Solgold will survive if and when Ecuador and the IMF reach an agreement to release substantial IMF loans to save the otherwise bankrupt country. The loans are essential to producing an economically and political viable business and investment environment. I can’t see any miner or any other investor wanting to do business in a country that’s on the brink of uprising. The catch is that IMF loans are usually contingent on ravishing the already poor masses. Just the idea of seeking IMF funding led to the recent Ecuador-wide uprising that forced the current strongman to flee the capital and await rescue by the armed forces. So, I’m thinking that some sort of new deal must be reached that allows IMF funding while the ravishing of the poor occurs slowly and incrementally. Any other thoughts?
Ecuador is essentially broke and living off a trickle of money from the IMF, which has said that more money will not be available unless the country implements wide-reaching budget cuts, which will impact the poor, who recently revolted when they heard that the country was going to implement FMI mandates. Big difference now is that the government has amassed its security forces and is now ready to suppress any revolution with zeal. Don’t know if banana republic instability will be seen as good business environment by big miners no matter how many tanks are put on street corners.
I’m curious about Atico. According to its website, Atico is a growth-oriented company, focused on exploring, developing and mining copper and gold projects in Latin America. Is this company both an explorer and miner? Same website states it is sending diamond drills to Ecuador. Anyone know how it stacks up against Solgold?
Any significance to this news report from Ecuador today? “ The Canadian Atico Mining Corporation has begun a drilling phase to obtain samples from a field in the Sigchos sector in Cotopaxi with prospects for copper, gold and silver.” This content has been originally published by Diario EL COMERCIO at the following address: https://www.elcomercio.com/.
Given that Ecuador’s neighbors, Chile and Peru, are world class very big cooper exporters, how would they react, price wise, if Ecuador does indeed become a competitor? Are potential Solgold buyers factoring that into their buy and financing strategy?
Assuming COl Drake stats are correct, his statement “ NM has to get the CGP issue resolved and the longer he takes the tougher it gets. In the end Cornerstone could lose out but at present it is clear they are playing hard ball,” exposes the conundrum of Solgold shareholders at present. It seems that going forward the backroom deals will decide the outcome of Solgold investors. Absent any insider information leaking out, I don’t see what else can guide an regular investor.
I didn’t intend to insult anyone’s intelligence. Just trying to identify what specific criteria or targets other than drilling data we should now be focusing on to judge how effective is Solgold in attracting miners who will actually exploit the supposedly rich cooper fields in the near future. If BHP is already expected to be the cash cow, then how to we track its progress in actual mining and exportation?
Well, what’s preventing Solgold, with its supposedly rich exploration drilling data over many years, from attracting miners. What’s holding up the actual exploitation of Solgold rich fields? What allowed the Chinese fields to be mined?