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Two interesting articles. The first describing the massive benefits of legal mining, through provision of work etc. The second an interview with SolG Vice president. Apologies if already shared.
https://www.vistazo.com/portafolio/nuevos-horizontes-economicos-region-amazonica-ecuador-EC2334503
https://www.bnamericas.com/es/entrevistas/solgold-ecuador-puede-ser-uno-de-los-nuevos-productores-de-cobre
I found this part to be the most interesting. As always not necessarily a perfect translation.
BNamericas: How are SolGold's other concessions in Ecuador going? Are you advanced in linking up with other companies?
Taunton: There are a number of companies in discussion with us right now. We have presented a series of concessions to see if anyone is interested in linking up with us to develop the other areas that we have.
We have selected two. One is Porvenir, which is far to the south, in Zamora Chinchipe, and the other is Heliports, very close to Solaris, in Morona Santiago.
We are going to focus on those two, because there are the best results so far. We have to focus activities independently of what we have in Cascabel. Several concessions are being targeted by other companies.
BNamericas: What happened to La Hueca and Blanca, where drilling started?
Taunton: La Hueca is part of the third party interest group. We have also offered Blanca to the same group.
According to law, we have to complete activities in four years, but there are elements beyond our control, such as COVID, where we lost several months.
We have to focus on where we have the best performance, but also offer to third parties if they are interested in partnering, if feasible, for advanced exploration activities.
Great find Pbow thanks
Pieces very slowly coming together
"We are going to focus on those two, because there are the best results so far..."
Porvenir and Helipuerto...(the latter is Tinkimints...
From the latest presentation there is a picture and:
"Multidirectional and mineralised veins at Helipuerto project in Ecuador’s southern cluster"
Could THIS be "one of the best holes ever drilled in South America"...?
But in the May Quarterly MD&A there is NO drilling listed for Helipuerto...
However, here is the detail, so could we be discussing a J/V or even sale with Solaris, Lundin (Fruta del Norte), Mirador or Panantza(Chinese owned Corrientes Resources/Tongling), Santa Barbara (Group Mexico)....?
"The Tinkimints copper prospect and the Helipuerto project concessions lie within one of the most prolific portions of the Andean Jurassic Porphyry Belt, which hosts globally significant copper and gold deposits in Ecuador, several of which have been developed into mines, such as the nearby Fruta del Norte and Mirador mines, the Santa Barbara, Panantza and Warintza deposits, and SolGold's newly discovered Cacharposa deposit at Porvenir.
Extensive and systematic geological and geochemical field programmes are continuing at Helipuerto with an initial focus on the delineation of the size and tenor of the new Tinkimints copper prospect including mapping and sampling of the area directly south of Solaris's Warintza copper-gold porphyry discovery that abuts SolGold's Helipuerto concessions."
Exactly lie within our tenaments Red j/v or sale this news will come soon imho
Pbow,
Thanks for the info, much appreciated
Atb
Good afternoon Mathersfinger, it was said between 4-6 weeks ago.
I see addicknt is still saying I said just because something hasn't happened in the past, doesn't mean it won't happen in the future.
This is addicknt rewriting history, as he has said this of me and I have never said any such thing.
The statement that best sums up my position is production is the most likely outcome with the current situation.
I've translated a bit more now.
Australia's SolGold plans to begin construction of its Cascabel copper-gold project, located in northern Ecuador, in 4Q 24.
According to the pre-feasibility study, the Alpala deposit hosts 9.9Mt of copper, 21.7Mt of gold and 92.2Moz of silver in measured and indicated resources.
BNamericas talks with SolGold's vice president in Ecuador, Andy Taunton, about Cascabel and the prospects for mining in the South American country.
BNamericas: How will the US$4.8 billion that the company announced as an investment for the next nine years be distributed?
Taunton: US$2.746 million will be the capital expenditure to achieve first production.
This investment will be deployed from 2024, when construction will start, and should last for five or six years.
The construction of the mine will demand US$900 m, the processing plant, US$465 m the tailings storage plant, US$309 m, port facilities, US$39 m surface infrastructure, US$175 m indirect costs, US$467m and another US$391 m for contingencies.
After the first production, the investment will be US$2,136 million, which incorporates the amount necessary to maximize production to 25Mt of mineralized rock processed in the plant, and also incorporates capital to keep the plant in operation
BNamericas: What other production facilities will be built besides the mine?
Taunton: The processing plant, some tailings, a pipeline that will transport the waste from the plant to the tailings area, which is outside the concession, and there is also another pipeline that will transport the mineral concentrate to the port of Esmeraldas.
In Esmeraldas we are going to have an infrastructure where we will remove the water from the transportation system and leave the dry concentrate to be exported from the port.
We also have an electricity line planned that will start from the north of Ibarra to connect with the national system.
BNamericas: What role will technology play in this mine and what systems will be used for water treatment?
Taunton: The intention is to use the best possible technologies, Cascabel's intention is to be one of the examples of how to be a high-production, high-tech, high-care mine with good relations with the communities where we work.
The water that we will use to transport the concentrate from Cascabel to the port of Esmeraldas is returned to Cascabel and used again. We are not going to throw the water into the ocean, we are going to reuse it.
BNamericas: Has the company already thought about where to refine Cascabel's production?
Taunton: It's a little early to decide exactly where. There are options in Asia, there are options in the United States, if I remember correctly in Chile. There are several options, but it is still too early.
BNamericas: How are SolGold's other concessions in Ecuador going? Have they advanced in the search for alliances with other companies?
Taunton: There are a number of companies in discussion with us right now. We have presented a series of concessions to see if anyone is interested in linking up with us to develop the other areas that we have.
We have selected two. One is Porvenir, which is far to the south, in Zamora Chinchipe, and the other is Heliports, very close to Solaris, in Morona Santiago.
We are going to focus on those two, because there are the best results so far. We have to focus activities independently of what we have in Cascabel. Several concessions are being targeted by other companies.
BNamericas: What happened to La Hueca and Blanca, where drilling started?
Taunton: La Hueca is part of the third party interest group. We have also offered Blanca to the same group.
According to the law, we have to complete activities in four years, but there are elements beyond our control, such as COVID, with which we lost several months.
We have to focus on where we have the best performance, but also offer to third parties if they are interested in partnering, if feasible, for advanced exploration activities.
BNamericas: What are the main obstacles facing Ecuadorian mining in terms of permitting and regulation?
Taunton: Under President Guillermo Lasso, the importance of responsible mining has been recognized.
The activities of EcuaCorriente, with Mirador, and Lundin Gold, with Fruta del Norte, have economically transformed the province of Morona Chinchipe.
These two examples are absolutely crucial in demonstrating the seriousness and reality of the benefits of high-volume mining.
Decree 151 issued by President Lasso last year shows that he has a clear vision of improving conditions for mining, of implementing activities that improve mining in general in Ecuador, and of trying to eradicate illegal mining, which unfortunately has been the example for the public.
At Cascabel we are going to begin very soon the negotiation phase with the government on details of royalties and taxes in compliance with the different stages of the law.
BNamericas: Despite government support, there are still a lot of backlogs from various companies.
Taunton: Although I am sure that there are still permits that are behind schedule, the current Ministry of the Environment has moved many blocked procedures.
In our particular case, in Cascabel we had one that was delayed for at least three years. It has been a relief for us to see that the water permits, which were previously blocked, have been moved.
In general, I understand that the goal is to meet the appropriate response times, according to the regulations.
The issuance of environmental records has been stopped in recent months, but it is clear that the government intends to solve it as soon as possible.
BNamericas: How do you see the mining future in Ecuador?
Taunton: With three, four, five or more mines in production within four years, the contribution of revenue to each mine's areas of influence is going to be demonstrated.
Regarding Cascabel, roughly we are talking about a potential of US$32,000 million in income and, on top of that, there are at least 3% royalties and 60% of that could reach the area of ??influence.
The figures are huge compared to the budgets of the provinces and cantons.
One of the great challenges is that the GAD [Local Governments] begin to understand the way in which they can have access to this type of funds, through proposals that are presented to the Central Government.
BNamericas: Cascabel is going to mark a before and after for Ecuadorian mining. How do you see the country's prospects in the medium and long term?
Taunton: The goal for Ecuador is to let companies work through the different stages of exploration to find another Cascabel, several Cascabels.
Geologists have no doubt that, in Ecuador, there is the same mineral wealth as in Peru, for example. Hence the importance of exploration with adequate times, to find minerals and move on to the next stage when technically it should be done and not to meet a date.
That is the way in which Ecuador can be one of the new copper producers.
Ecuador has great potential and, if minerals have not been found as in other countries, it is because the investment conditions have not been adequate.
Now is the moment of opening, because mining is an activity of high standards and that begins with the shareholders who fund our activity and who expect their money to be used with environmental care, complying with the laws and also benefiting the government and the communities.
BNamericas: Do you think now is the time to open the mining registry and that there will be enough interest from investors to bet on mining in Ecuador?
Taunton: Since the opening of the cadastre was mentioned, there has been interest from many investors.
I believe that the cadastre has to be opened very soon to satisfy the interest of third parties.
Ecuador needs foreign investment, because without it it cannot develop projects. Ecuador has no money, therefore it has to take advantage of the interest of foreign investors who today see the country in a positive light.
Opening the cadastre is a crucial element.
One word guys
'Barrick'!!
Possible fortissimo
Fortissimo,
It’s fine saying that but who do we start barracking, want to give us a clue?
Atb
This was a little while ago
“Hailing copper as a “strategic” metal, Mr Bristow said:
“It is more strategic than cobalt, more strategic than lithium. You can’t replace copper on conductivity. It is a modern metal."
dBW. I read recently that scientists were working on Graphene being an alternative to copper as it has greater conductivity powers,
Hamoperator I have been following the Graphene story since 2010 and have a small investment in VRS.
Graphene can never replace Copper as Graphene is a couple of atoms thick and has no real current carrying capacity.
Thanks for sharing these articles. I find it a bit odd that we're finding out new things about the company and its operations in BN Americas, but better than not knowing at all I guess.
After initial signs that Daryl would be a lot more open and communicative, does feel like we're back to the SOLG of the last 24 months, where we haven't really got a clue what is going on.
https://www.bloomberglinea.com/2022/07/23/zaruma-el-pueblo-construido-sobre-oro-que-se-derrumba-poco-a-poco-en-ecuador/
I find the above article astonishing really. Its about illegal mining and how its causing a historic city to collapse. It kindof explains why there is some push back against mining in Ecuador. I mean its easy for us to differentiate between legal and illegal mining.... but a bit harder if your house falls into a big hole.
pbow, it's easy for anyone to differentiate between the two - the clue's in the description.
If I lost my house into a sink hole caused by mining I would not be sitting there and thinking about the nuance as to who made the tunnel in the first place. I would be saying that I want mining to be stopped full stop. The government needs to do far more to stop the illegal mining.