Call with Scott8 Sep 2023 09:00
First of all I am grateful that he found the time to call and answer a few questions.
Website. Yes it's well over due and he apologised. There are no underlying or sinister reasons for the delay just that the company doing the work are slow.
Political situation. Both the the remaining candidates are pro development so he is not concerned and stays out of politics. Despite media reports of civil unrest he feels safe living in Ecuador and is happy going about his day to day business.
There are a number of parties active in the data room. Some we are likely to have heard of and some we are less likely to know. The one thing they all have in common is a balance sheet sufficient to become a strategic partner. So potentially deep pockets.
There is still no time constraint or limit for the strategic review which is ongoing. The political situation has, howver slowed things down.
There is "a lot of interest" in Espejo in the north and Cana Brava and El Cisne in the south. Some work is being done to try to decide where would be best to drill and permission will then be sought. ( I'm a little vague on this but there is something happening).
There has been a new company sec appointed. The previous one was standing is after the departure of Karl so little to see here.
The financials should be out on the 26th and will contain some information regarding the departure of Cuzzubbo.
The newest plan of action for Cascabel should be out in Q1 2024. Still block cave. Negotiations are ongoing with the government for permits for tailings sites etc. The plan is likely to be a low cost option and phased approach to develop Cascabel .
As a shareholder Scott is disappointed in the SP but, if he was not in a lock out period due to the impending financials, would see it as an good buying opportunity and buy more (if his wife let him). He said this twice.
We discussed holding another webinar which looks likely but may well be after the release of the financials.
So nothing ground breaking but good to know big companies (plural) are in the data room and that there is interest in the regionals.
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