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News not that far away now if this article is to be believed...boom

Can Ecuador leverage its copper resources to contribute to the energy transition?

Bnamericas Published: Monday, March 11, 2024

excerpt :

'Another important point is that this government is speeding up the signing of investment contracts, investment protection contracts to provide stability to projects. Some were also signed under the previous government and now they're stepping on the accelerator.

BNamericas: What contracts are you trying to accelerate?

Orozco: There are several, including the contracts with SolGold, Solaris Resources, Curimining [the local subsidiary of Salazar Resources], Torata Mining [the local unit of Challenger Gold], Dundee Precious Metals.'

https://www.bnamericas.com/en/interviews/can-ecuador-leverage-its-copper-resources-to-contribute-to-the-energy-transition

DBW

It does all appear to be coming together, at last.

Nice finish to the day

18.75m

Roaring back now!!. Feeling much better!!

feeling like a bit of a pr--ck now

Yes, sorry about that. Apologies

I think it's the ASX being whacked rather than company related

apologies for the panic!

Nm

Well, BMO is now ready to commit serious amounts of cash into Ecuador and Noboa is instrumental in that process

More good news for Ecuador mining investors who seek security of investment before committing large capital outlays -

https://www.mining.com/ecuadorian-government-releases-controversial-prior-consultation-manual/

excerpt

“Continuing with its extractivist and neoliberal agenda, President Noboa turns our rights into a mere administrative procedure to facilitate the interests of the mining industry and speed up the approval process of mining concessions,” the statement reads.

The government, on the other hand, defends that the manual was created following previous statements of the Constitutional Court and Article 7 of Convention 169 of the International Labor Organization, which states that no segment of a national population has the right to veto development policies that affect an entire country.

Https://www.telegraph.co.uk/money/investing/stocks-shares/nothing-cosmetic-about-elf-beauty/

Fernando Benalcázar, a board member of Latin American mining agency Olami and former Ecuadoran deputy minister of mines in July 2023 -

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BNamericas: 'In May Newmont announced the acquisition of Newcrest to its shareholders. What could that mean for Ecuador?'

Benalcazar: 'The decision it makes on whether or not to stay in Ecuador will be a test of the country's attractiveness. It will be a thermometer to determine how one of the largest and most important mining companies in the world sees Ecuador.'

'If Newmont decides to stay in Ecuador, it will seek to acquire 100% of the Fruta del Norte mine and expand its interest in the Cascabel prospect.

I believe that Newmont will stay in Ecuador and use the path opened by Newcrest in its strategy to fully enter Fruta del Norte and expand its stake in Cascabel.'

https://www.bnamericas.com/en/interviews/investor-confidence-at-stake-ecuador-prepares-for-referendum-on-mining-in-biosphere

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I bet Newmont intend to sell the Telfer-Havieron asset back to GGP-Forrest consortium. Let's they use the cash to buy out SOLG's stake in Cascabel or even take out SOLG in its entirety

I hadn't realised that this article's been posted some days ago..apologies

'the chatter goes like this. cascabel is in play with more than 20 confidentiality agreements signed by solgold and multiple visits to the project for those interested.'

Https://resourcesrisingstars.com.au/blog/rinehart-sets-tongues-wagging-with-us-120m-exploration-push-in-ecuador?RID

GREAT WESTERN EXPLORATION (ASX:GTE):

Sandfire (SFR) has hit the brakes on its Aussie exploration effort, preferring instead to focus on the Kalahari copper belt in Botswana in support of its Motheo operation, the Iberian pyrite belt in Spain in support of Matsa copper-zinc operation, and in Montana at its Black Butte copper project.

As is well known, Sandfire spent heaps in Australia trying to find a replacement for its short-lived but magical DeGrussa mine in WA. But to no avail, hence the shift to overseas locations.

Wouldn’t it be ironic then if another company were to find another DeGrussa, a mine which threw off billions of dollars in fresh cash from its high-grade mix of copper and gold.

The irony factor played into interest in the news that the lightly capitalised Great Western Exploration expects to have the drill bit turning soon at its Fairbairn copper project, some 120km from the mined-out DeGrussa.

It reckons geological mapping, sampling, and modelling suggests the conductors present represent “potential for DeGrussa style copper-gold targets”. It is having a crack to find out, with the DDH1 rig rolling up to site in late March.

It is what junior explorers looking for market attention should be doing, having a crack. Leverage to success is what is wanted from a junior, with GTE sporting a $14.6m market cap at Thursday’s closing price of 4.2c a share.

end

Although Sunstone’s current market cap does not reflect it, the company is already on to a big discovery down south in Ecuador at its Bramaderos project near the Pan American highway.

It is shaping up as 10 million ounce gold-equivalent mining camp, with the fairly recent discovery of the Limon epithermal gold-silver deposit within the border Bramaderos area shaping up as starter project to provide the cashflow to get the bigger porphyry systems into production.

But more relevant today is its presence in the north of the country with its El Palmar gold-copper porphyry/epithermal gold project, and the nearby Verde Cico high-grade gold prosect.

Both lie to the west of Hanrine’s new concessions where it wants to spend $US120m and the ENAMI/Codelco joint venture at Llurimagua mentioned above. Cascabel is about 65km to the north-east on the same fault system.

So Sunstone is in the thick of things at El Palmar where it has multiple porphyry targets, and at Verde Cico, which was explored by Rio Tinto in the 1990s (near surface hits included 52m at 1.3g/t gold and 41.5m at 1.3g/t gold).

Sunstone reported cash and investments of $4.9m at December 31. Given the market’s current lack of interest in exploration, it will be holding off committing to new drilling programs in the south and north until the tide turns.

Low-cost trenching activities will continue to advance the properties in readiness for new drill programs which could well be funded at a share price higher than today’s levels by a market turned on by corporate activity among the heavyweights in the country, or the arrival of a $US4lb-plus copper price.

cont...