Member Info for Ortherncopper

Located in Azuay province in southern Ecuador, this US$316mn gold and silver project belonging to Canadian firm Dundee Precious Metals (DPM), requires the State to carry out environmental consultation and prior consultation with local communities before it can request the environmental permit to allow construction to begin.

According to a ruling made last year by a local court, prior consultation must be conducted in the Escaleras community in the Victoria del Portete and Tarqui areas, while the environmental consultation must be carried out in the project's area of influence.

According to DPM, Loma Larga has the potential to produce an average of 200,000oz/y of gold in the first five years.

The company plans to build an underground mine, with surface facilities including the ore processing plant, the paste fill plant, a tailings storage facility, and other installations, which will not exceed 84ha in the project area, DPM’s country manager, Scott Campbell, said in an interview last year with BNamericas.

After five years with no new major mines starting operations, Ecuador awaits the start of construction on three projects that could jump-start its promising mining sector.

The country's first large-scale industrial mines opened in 2019 with the start of operations at the Fruta del Norte gold mine run by Canadian firm Lundin Gold and the Mirador copper mine operated by Chinese-owned company EcuaCorriente. They were part of an initial portfolio of key projects that included the Loma Larga and San Carlos-Panantza projects, as well as second-generation projects Cascabel, Cangrejos, Llurimagua, Warintza, Curipamba and La Plata.

Since then, political infighting, changes in government, stiff opposition to the mining industry and a tortuous permitting process slowed down new initiatives.

Now, three new projects – Curipamba, La Plata and Loma Larga – could see construction start in the short term and help attract more mining investment to a country blessed with extremely promising mineral resources.

CURIPAMBA (EL DOMO)

This US$250-300mn gold and silver asset is owned by Adventus Mining and Salazar Resources in Bolívar province.

The project comprises seven concessions covering approximately 21,500ha and includes the high-grade El Domo copper-gold deposit.

Last January, the companies obtained the environmental permit that will allow them to begin construction of the mine, which will become the country's third industrial-scale operation and is expected to employ up to 3,000 people either directly or indirectly.

Construction works should begin in the coming months, Freddy David Salazar, corporate development manager at Salazar Resources, told BNamericas.

In addition to complying with Ecuadoran regulations, the mine design meets the guidelines of the Canadian Dam Association, using a downstream tailings dam method with rockfill, which is considered the safest option, according to the companies.

LA PLATA

Located in Palo Quemado in Cotopaxi province, central Ecuador, Atico Mining's US$176mn polymetallic project must first complete the environmental consultation process before it can request the permit to allow it to begin mine construction.

That consultation process, conducted by the environment ministry, began in July last year but had tobe suspended for almost six months due to violence from anti-mining groups.

The ministry of energy and non-renewable natural resources recently extended the firm's concession until 2049, which Atico says creates better conditions to continue with its investment plans.

If necessary, the company also could request another 25-year extension in 2048.

However, Atico believes that construction of the mine should begin in 2025.

LOMA LARGA

Located in Azuay province in southern Ecuador, this US$316mn gold and silver project belonging to Canadian firm Dundee Precious Metals (DPM), requires the State to carry out environmental consultation and prior consultation with

Try asking a builder to build your extension based on a quote you got 2 years ago!

Correct.. . And I was originally talking about inflation over the last 12-18 months, not future inflation… even the original 4.5bn capex would now be closer to 6

That hope of a capex of around 1 bn is probably way too optimistic in my opinion.. doesn’t take in to account the large dose of global inflation… if we can get under 2bn it’s a result. As long as they are not shrinking the initial mine scale too much to achieve it.

And if, when the PFS update is released, there is no supplementary financial details of how Solgold intend to move forward with the new lower capex, I will suggest the share price will finish the end of the day in the red after a brief green jump start.

Hopefully we will soon find out.

I like analogies.. so here we go…

We have a product… we know where it is… but we seem to be unable to prove we can get it to market in a cost effective way. Our production method is complicated and successive management teams have all shown to be out of their depth, lacking the required experience and ability to adequately get the product to market.

So to excuse their failures they repeatedly tell the market they need more time to conduct RnD.

But with the large, healthy annual budget almost spent, (don’t ask on what) we have to raise more money or accept a distressed sale before the administrators are called in.

To conserve what budget they have left, management decided to announce a review of the business. Which at first seemed positive… but later management admitted to the market the review would be eternal, have no end date and that they had also stopped all serious development work on any other products..

The market understandably was not happy.

The situation does indeed seem dire… So to help, we have hired a 10 year old child to lead our marketing division.

Im thinking Byron Bay has volunteered his services as our new social media manager

They lost Fawzi, presumably because of his 400k salary... so understandable.... but he seems to have been replaced by a teenager, who's only reference point for corporate communications must be TMZ, or Hello magazine style clickbait garbage. Its an infantile approach.

Clearly no one in the Solg office is looking at any of the comments/replies that follow on these tweets, to see how they are landing, as these tweets have been going on for a week..

Someone over at HQ needs to read the room... Its embarrassing.

Scott, when he came on board as part of CGP, sneered at previous managements success. One of the first things he did was to criticise the 'culture of non performance'... that statement has not aged well at all...

If he cant get a monetisation event delivered soon, what is his alternative?? Back to Cazzubo's plan? the guy they fired... what else is there?

Scotts position would be untenable then

The question would be how long will we be waiting for? for this monetisation event?

How much dilution do we have to take to keep going while we wait?

If there is no near term monetisation what is our plan B here?

Do we just keep raising to to pay Scott and his friends salaries and fees until it happens? or do we go back to to being an explorer whilst trying to progress Alpala? if monetisation isnt happening any time soon? AKA Cazzubo's plan? That would require more of a funding raise.

That would also have to see Scott and his mates eat an enormous humble pie.. and resign

Worryingly I see no plan B to us simply hoping the PFS numbers impress and a major wants to do a deal very soon.

I have been watching events over at DGR for the last few weeks... what a mess Mather has got them in.. investors over on the Hotcopper board are rightly furious with the details in regard to how it has all unfolded...

But the valuation of DGR against their remaining underlying assets (Solgold shares) is still at a huge discount... as long as Solgolds value doesn't fall further.

It will be interesting to see how DGR raise funds this year to continue.. which just also happens to coincide with Solgold needing to raise funds later this year to continue.. Mather paddling his own canoe.. he's got lost and been going round in circles... and now he's found a big leak..

Those shorters have made a tonne more money than we have over the last 12 months

I'm pretty sure they now feel they closed that out far too soon.. it was 17 pence then... 17p seems like a very distant memory now..

I think the Slug has had a miraculous conversion to Islam

Shalom

'we also have a high level DFS concluded.'...

Are we just sitting on it to protect or 7p share price???

Along with Redknights greatest drill hole results in South American mining history??...

Willem just done a new interview… worth a watch

https://www.youtube.com/watch?v=5qelnyR54s4

Porvenir has disappeared from the discovery chart?? I’m sure we used to have it included in the past..

I’m better than you, no your not,

my nob is bigger than your nob,

Your mum is fatter than my mum,

You said this, I said that,

I’m cleverer than you, no your not,

Does this childish one up nonsense ever end?

It’s grown adults, arguing like 10 year olds, trying to one up total strangers online, as if it proves they are better and wins them points. I’m sure you wouldn’t engage in such pathetic arguments in real life… so why bother

Https://twitter.com/robert_ivanhoe/status/1749935385487016321