Member Info for Ortherncopper

Fast and smart guys.... Remember, we are now proceeding fast and smart !

This idiot pops up every few months telling us of his tips from his mates at ‘insert any bank’ ….

The Hannam and Partners event is a minor trade event…. It’s not the place to announce anything.

If anything, Scott pulling out has saved the embarrassment of him having to just waffle on saying something that tanks the share price again…

One cursory look at the Hannam event page and website shows a temporary holding page full of temporary Lorem Ipsum text…. Worse than Solgolds..

https://hannam.partners/events/

No one with just half a functioning brain, could possibly believe that a minnow of a company, who are rapidly running out of funds again, and have struggled to progress its only major asset for years are in a stronger position than a global major with billions at hand.

It’s certainly not clever to run our funds down.. clever would be to have a viable, believable, plan B if any sale or monetisation event fails. We don’t have one.

Explain non dilutive?

Someone will give us 1.5 billion for nothing in return? We keep all the asset?

I’ve had the GPs finger up my backside…. He told me it was essential and couldn’t wait… which was a bit weird as I only had a broken thumb.

Stackhouse did once email me offering to set up a call with Scott… when I responded positively to this idea, nothing happened… not even a reply.

He is just a cheerleader… and an extremely poor social media manager.

Sean Tufford is not any official source of credible information.

Far more likely that Solgold management, in an attempt to minimise a negative reaction and criticism, inform us plebs with just vague non specifics.

Who says they requested their name be withheld?

Yes Quady… I do consider this a straightforward short term, can kicking loan… and there could easily be another.

Solgold have been deliberately vague surrounding its details.. so the details won’t look good.

When will construction of the Cascabel mine and copper production begin? 'We hope that in mid-2026 or at the latest in early 2027....'

So with Solgolds track record.. construction will begin end of 2027- mid 2028

This will be the second large-scale underground mine. What makes it different from the Fruta del Norte mine? Fruta del Norte has an underground mine as well, but its main extracted material is gold. They have a different methodology in terms of extraction and processing. In the case of Cascabel, it is an underground mine whose main material is copper and that will be built using the block-caving methodology, which allows the material to be extracted through tunnels. Block-caving is particular for soil types with resources found about 500 to 600 meters below the surface. It is a very specialized methodology, few operations in Latin America have implemented it; It is common in the industry, but there are not many in the region. How will they transport the material to the port of Esmeraldas? Is the road structure in the area adequate for the gigantic trucks required in the industry? At the beginning of operation, transportation will be handled through special trucks with all the adjustments that need to be made to the roads. All this is contemplated in the initial USD 1,550 million investment already mentioned. And then a mineral pipeline will be incorporated to carry the copper concentrate.

It is an important investment and is contemplated for the second part of the operation. When will they build it and how much will it cost? This pipeline will take the material directly to the port of Esmeraldas, when the project is expanded to the second phase, in 2036. It is the most sustainable and although it takes a little longer and is more complex, it is contemplated in the project and will allow material to be exported more efficiently without major impact on the roads. They are 150 kilometers away, we already have conversations with groups that have made these types of mineral pipelines in Chile, Argentina and Peru.

The estimated cost could be around USD 150 million. In the midst of the energy crisis, mining's electricity consumption has been questioned. How will they face this challenge? We are very sensitive to the national problems related to the generation and supply of electrical energy. Since 2023 we have had conversations with builders and experts in hydroelectric solutions. And in March 2024, a memorandum of understanding was signed to begin negotiations related to the construction of a hydroelectric and solar solution, close to the concession. These solutions could generate between 200 and 220 megawatts of clean energy. The investment of USD 4.2 billion does not contemplate the construction of these energy solutions, because that will be the responsibility of other companies, which would provide the service. Cascabel is a long-term project. When the mine begins operations, in 2030, it is estimated that it will require only 90 megawatts and when the expansion takes place in six more years, it will reach 180 megawatts of consumption requirement. It will be more than enough to supply ourselves and provide energy to the integrated system.

Then that figure goes down to a point where we will once again need to increase the number of labor when we build the mine. The communities have been the biggest supporters of us moving forward with the project. In these 10 years we have had no incidents of stoppages or road closures, we have been able to operate with peace of mind.

Although it will always be a risk, we believe that we have to address any doubts that people may have with a lot of transparency and with many arguments and information. We understand that as it is a nascent industry in the country, there are doubts from groups that, due to lack of knowledge, may, with justification, make inquiries. Are you concerned about the risks of illegal mining as the country is located in the north where there have been cases of this crime? We know of the problems that exist on the border and in other concessions, but that has not permeated our communities, nor our project. In any case, SolGold works in coordination and collaborates with the information requested by the Armed Forces and the Police for the operations they carry out. How much has SolGold invested so far and how much more remains to be invested in Cascabel? From 2013 until now, in exploration alone we have invested USD 300 million in the Cascabel project, of which USD 45 million have been invested in communities. The USD 45 million corresponds to expenditure on salaries of community personnel who supported in the exploration stages, in social and sustainable community projects, in payment to community suppliers of food and transportation. The construction of the Cascabel project will cost USD 4.2 billion, of which around USD 1.55 billion will be invested in the first four years of construction, in the first phase of the project.

These amounts will be used for the processing plant and the mine, for adjustments to the port, the tailings dam and the road infrastructure required within the concession. And more or less from the sixth year, a second phase of the project will come into operation, in which the processing capacity of the plant will be doubled until the 28th year of operation.

pt3

After signing the exploration contract, what is needed to begin copper exploitation in Cascabel? To begin the construction of the mine, the processing plant, the tailings dams, among other structures, we need the environmental license granted by the Ministry of the Environment. And to request it we still need to conclude certain exploration studies, which will be the inputs for the environmental impact study, which is carried out by external experts hired by SolGold. This environmental impact study is the document that the Ministry needs to process the license. The license also requires that the Ministry carry out an environmental consultation, how long will it take? Within the process of obtaining the license, the Ministry of Environment carries out environmental consultation. We believe that this entire process could take between a year and a half and two years. But while that happens, we have a lot of work to prepare the company and the communities to begin construction of the mine. For example, carry out educational leveling and prepare communities so that they are ready to provide the services required in the construction and operation of the mine.

And we have to begin the bidding processes for equipment and supplies, specialists, contractors. If all goes well, when will construction of the Cascabel mine and copper production begin? We hope that in mid-2026 or at the latest in early 2027. We estimate that it will take four years to build and that in 2030 or 2031 Cascabel will begin production. The operation of Cascabel is currently planned for the next 28 years, which would consume 18% of the resources or reserves that have been identified as potential within the concession. What will happen to the remaining 82% of the project's resources? For now we are talking about production for the first 28 years, because that is what is economically viable at this time, given the investment and capacity of the plant that is going to be built. But that does not mean that the license limits us to only extracting those 18% of resources. After its first 28 years of operation, it is likely that production will increase and the useful life of the mine will be extended, which is permitted by law, because the exploitation contract could be renewed, but that will be done much later. We believe that Cascabel will be a multigenerational mine, with at least 75 years of production.

Are you worried that there will be division between the communities that will cause conflicts and paralyze the project as has happened in other projects? SolGold has been in Ecuador for a little over 10 years. We have an excellent relationship with the people in both Lita and La Carolina, which are the parishes that are directly in the area of ​​influence of the Cascabel project. Social integration work has been done with them so that they can participate as suppliers or as employees of the concession. When the hiring peak was in the exploration period we had 600 to 700 employe

The Australian SolGold will invest USD 4.2 billion in the construction of the gigantic Cascabel underground copper mine, in Ibarra. Construction of the mine will begin between mid-2026 and early 2027.

The Australian mining company SolGold is one step closer to beginning the construction of what is expected to be one of the largest underground copper mines in Latin America and Ecuador, in the Cascabel concession , located in the Lita and Carolina parishes, in the canton Ibarra. On June 5, 2024, the Australian company, which has 90 mining concessions in Ecuador, signed the contract with Ecuador for the exploitation of copper in this concession . It is now planned that construction of the underground mine will begin in mid-2026 or in the first months of 2027 , which would take four years. Thus, Cascabel will begin exporting copper concentrate in 2030 or 2031.

But for construction work to begin in these parishes of Ibarra, where some 7,000 people live , the Ministry of the Environment is still pending an environmental consultation with these communities . And, with that, the Ministry will decide whether to deliver the environmental license to the mining company to build the mine. In an interview with PRIMICIAS, Luis Mario Sánchez, vice president of SolGold, says that since 2012, when the mining company received the concession for the Cascabel project , its teams have worked to build a good relationship with the communities. Hence, Sáchez is optimistic , and hopes that the environmental consultation and approval of the license will be completed without conflict until 2026.

Sánchez recognizes, however, that there will always be "risks" due to social conflict.

pt1

Waiting is what we have to do... its a bottom drawer share until the day it isnt.. 6 weeks from now? more likely 6-18 months.

I was correct when I said we would end up getting a short term, can kicking, funding RNS.. Dont be overly surprised if we get another.

Standard Solgold.... on no clarity or clear progress, the share price always falls.... totally normal.

They are Reds fantasy scenario figures... worthless... they would be laughed at outside this forum..

Certainly any interested mining party wont go anywhere near those values when placing their value on the asset..