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Generally I think that the Project will be bought out. that aside you still need a delivery plan or you will lose credibility (maybe we already have).
If I was working for the company I would be preparing an RFP, and pre-qualifying potential Contractors to carry out the works. Its a sensible approach and the cost to do so would be limited. It just needs a couple of people who know what they are doing.
I dont acknowledge that in the slightest. Civil Engineering companies are more than capable of building the mine. i would also suggest that in a country such as Ecuador employing a large Civil Engineering company to build the mine would be the most sensible thing to do. That civil engineering company would most likely be Chinese. From what I can gather the Mirador mine was largely built by a Chinese Civil Contractor - China Railway Construction Corporation which despite the inference from the name does a lot more than Railways.
The country risk defo adds a challenge but where Cascabel is located is supposedly quiet. The end result though is you just have to pay more. The company I currently work for have operations in Libya and Iraq. We have discussed me going - it will be very expensive for them :-)
Addicknt, the use of PMCs is relatively widespread.
The project I worked on in Costa Rica was privately funded - ok it was only 450 million USD - so smaller - but that had Jacobs managing it for the European owner. The use of a PMC is probably cheaper than doing it inhouse as those companies will have long term employees. If you hire someone on a project basis you will typically have to pay a premium. The PMC will also likely be the designer as well so there are synergies there.
The problem typically is the mindset. We really struggled with Health and Safety. We couldnt get it through to many of the Costa Rica staff that we really didnt want them to risk their lives to build the port :-)
The other problem we had was just the small pool of people. Ecuador will be better I imagine with a population 3.5 times bigger, but you will still be training people from scratch. I think it would be a fun project to work on.
Im not sure if Ecuador will be an attractive place for foreigners to live in - whilst Costa Rica as a whole is - where our Project wasnt, again this was a big problem for us.
In my opinion, for what its worth, the biggest challenge that the project will face will be the supply chain in Ecuador. Finding local subcontractors who will have the capabilities required will be a challenge - getting them to work to western H&S standards will be bordering impossible.
As such they will need to bring people and companies from abroad which will be expensive. It will probably take time as well in terms of importing equipment, setting up establishments etc. When I worked in Costa Rica we often found it difficult to get people to move there.
Notwithstanding the above, so long as they do a few key appointments its perfectly possible.
Addicknt again it doesnt really work like this on large projects. For example I worked on the Gold Line Metro in Qatar. It was about 2.5 billion pounds for our section which was the tunnels and stations. The trackworks etc were done by another Contractor after us.
The Client in effect was the Qatar government. They set up a company called Qatar Rail to be the conduit for the money. Qatar Rail then proceeded in hiring a Project Management Consultant to actually mange the Construction. The government just provided limited oversite in terms of payment and approving Variations.
I dont see why Solgold couldnt take a similar approach. I would note that I think Arup did a similar Project Management role on that mine in Yorkshire.
To answer your question 1984 Investor Laing O'Rourke did all the structural, mechanical and piping, as well as electrical works for the in-loading and out-loading conveyors and transfer stations at the Cape Lambert Port B stockyard facility in the pilbara.
Macmahon Holdings is quite a big civil engineering company and does plenty of work on Mines in Australia and Asia.
NRW holdings also very big civil engineering company that builds mines (amongst other things)
It wouldnt be particularly hard for a large scale Contractor to build a mine, they would of course have to subcontract certain specialist works - which is what they do on every large project.
My experience of this is through working for large Civil Engineering Contractors on some of the largest Civil Engineering Projects in the world.
Addic I have the equivalent of permanent leave to remain in Mexico. Most of my extended family live in Mexico and I know perfectly well what it is like to live there having a house in Leon Guanajuato. Most of the illegal immigrants are entering from Mexico to the USA but the vast majority are not Mexican. They either come from India, Africa, the likes of Honduras, El Salvador or other similar countries. The number of unauthorised immigrants in the US actually fell by nearly a million from 2017 to 2021.
Yes the Cartels have influence and they kill each other a lot. Its never impacted me - or anyone I know.
Addicknt the concept that Mexico is a Narco state is ridiculous. That its the worlds largest is frankly stupid. I mean the Syrian government is the largest manufacturer of Captagon flooding the middle east with it to raise fund for its civil war. Many other examples.
Yes Mexico has problems - almost all because of the border it shares with the USA but if you visit Mexico I think you will find it is quite a nice place.
Further to my previous post, on the basis of what you are saying why did BHP pay 22.15p a share in November 2019 and not the 45p they paid in October 2018?
They wont get 16p at this point which is probably why they will look at other financing options.
Fortissimo they took the shares at 16p they were trading at 16p - ie they paid no premium. Why would you expect them (or anyone) to pay an almost 70% premium? They are a business, not a charity. What do they get for that 70% premium? This is why we should have been raising finance when the share price wasn't in the doldrums (in my opinion)
Fortisimo, you say the last placing was 16p and there is no reason why they should sell the CGP shares for any cheaper.... Id say a good reason is the share price is now a lot lower. Thats more than a 50% premium. Solg have never done a placing with that sort of premium. BHP was 30% premium in 2018
We were trading above this price because of take over speculation.
The base price remains value of assets.
I would love for us to get good money from non core assets - just dont see it happening. How much did Solgold pay for Acapulco Mining Pty Ltd and all its exploration rights in Australia (I know it was shares) but it equated to less than 2.5 million.
The companies assets are its Tenements. If they are non core that would suggest they havent had much / any exploration. As such how much are they going to sell for?
Even if you go to Porvenir which has had some exploration.... if it was worth anything we would not be trading at this price.
Imbabura doesnt have a Mayor, its a province so has a Provincial Prefect. Ive looked on his Facebook and nothing in March.
Ibarra has a mayor and there is a Facebook page for the mayors office - again nothing in March. 100% they wouldnt be signing anything 2 days ago as its Semana Santa. That aside I doubt very much a mayor will be signing anything of note that will impact us.
Further to my previous post, as of the 22nd of March out of 221 cantons in Ecuador 38 are in the red category (with the highest restrictions), 23 are in Amber (mid restrictions) the rest - 160 are in green with absolutely no restrictions. As such in reality 72% of the country is not under a curfew.
Needalife
I'm pretty sure people get murdered in Australia. That it is a mayor is hardly makes it much different. It would be somewhat difficult for Australia to have a Presidential candidate murdered, given you have a King and not a president.
In theory there is a national curfew but given most areas are "green" and have no restrictions in practice this is not the case.
If you think Australia doesn't have kidnappings and extortion you need to start reading the papers.
As per UK travel advice Quito and the area that Cascabel are both green - ie perfectly fine to visit.
I really think you are making a meal out of a mole hill over this. The president is bringing in security and Ecuador is much safer than many countries in the Region where very successful mines have, and are being built.