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SOLGOLD PLC ORD (SLGGF) is a leading resources company dedicated to the discovery, definition, and development of world-class copper and gold deposits. The company focuses on the efficient delivery of shareholder objectives, along with value creation and economic benefits for impacted communities. SolGold is committed to operating transparently and in line with international best practices while ensuring shareholder value and promoting social and environmental responsibility.
Recently, SolGold made significant progress with the signing of the Complementary Investment Protection Agreement for the Cascabel Project in Ecuador, representing the largest mining investment in the country's history. The agreement includes a commitment to invest $3.2 billion over subsequent years, highlighting the Company's dedication to the project and its partnership with the Ecuadorian government.
The signing of the Exploitation Contract for the Cascabel Project further solidifies SolGold's position, setting legal and financial terms for the project's development. This milestone underscores the company's commitment to sustainable growth, shared prosperity, and responsible mining in Ecuador. SolGold's extensive exploration efforts have led to the discovery of one of the world's largest copper-gold porphyry deposits, showcasing the project's potential to boost the Ecuadorian economy and drive regional development.
SolGold PLC has achieved significant milestones in 2024 for its flagship Cascabel Copper-Gold Project. Key developments include signing an Exploitation Agreement with Ecuador's government and completing a Preliminary Feasibility Study (PFS) that demonstrated a $3.2bn NPV and 24% IRR over 28 years. The company secured a US$750 million streaming agreement with Franco-Nevada and Osisko Gold Royalties, including US$100m for project advancement. The PFS showed reduced initial capital requirements of US$1bn from previous plans. Additionally, exploration efforts identified a major porphyry target at El Cielito Norte, with high-grade gold results in channel samples.
SolGold has announced the availability of its Q1 2024 Financial Report and Management Discussion & Analysis (MD&A) for the period ended September 30, 2024. The financial documents have been filed on SEDAR+ in Canada and can be accessed through the Investor Centre section of the company's website at www.solgold.com.au.
SolGold announces its 2024 Annual General Meeting (AGM) scheduled for December 5, 2024. The meeting will be held at Corrs Chambers Westgarth in Brisbane, Australia at 9:00 p.m. local time (11:00 a.m. London time, 6:00 a.m. Toronto time). The company has made available the Notice of AGM, Information Circular, 2024 Annual Report and Accounts, and proposed new Articles of Association on SEDAR+ and the SolGold website. Registered shareholders will receive the Notice of AGM and Information Circular directly.
SolGold has initiated geotechnical investigations at the Cascabel Copper-Gold Project in northern Ecuador. The project's pre-feasibility study outlines a 28-year mine plan based on 540 million tonnes of reserves, containing 3.2 million tonnes of copper, 9.4 million ounces of gold, and 28 million ounces of silver. With a $1.55bn capex, the project targets a 24% after-tax IRR and $3.2bn NPV8%. The program includes geotechnical drilling and seismic assessments focusing on key infrastructure areas. SolGold is funded through a $100m gold streaming agreement, with an additional $650m available for development upon meeting conditions.
SolGold has awarded G Mining Services the project management contract for the Cascabel Project Feasibility Study. G Mining will oversee timelines, deliverables, cost control systems, and provide expertise in mining, infrastructure, metallurgy, and expense estimation. The company was selected for its experience in Ecuador's mining sector, particularly with the Fruta del Norte project, and its competitive cost structure.
The scope includes implementing project schedules, consultant selection, and contract management. SolGold aims to improve various aspects of the existing PFS, including the Tandayama-América open cut resources, gold and copper recovery, mine plan, infrastructure efficiency, and waste management.
SolGold plc (LSE:SOLG)(TSX:SOLG) has provided an update on key developments for its Cascabel Project, a premier copper-gold project. The company has optimized its infrastructure investigation program to include ground geophysical assessment, reducing drilling requirements while providing a more comprehensive understanding of foundation conditions. Drillers are preparing to mobilize for geotechnical drilling at plant and portal locations.
SolGold is progressing with permitting in three critical areas: Cascabel Mine Site Infrastructure, Tailings Storage Facility (TSF), and Port and Pipeline. The company expects to submit Environmental and Social Impact Assessment (ESIA) documents to Ecuadorian authorities by the end of Q3 2025.
The company has participated in investor events and welcomed two key additions to the project team: Reed Huppman as VP of Environment, Social, and Governance (ESG), and Ash Martin as VP of Project Engineering, strengthening their technical and sustainability capabilities.
SolGold PLC has released its Annual Report and Accounts for the fiscal year ended June 30, 2024, highlighting significant progress in advancing its flagship Cascabel Project. Key achievements include:
1. An updated Pre-Feasibility Study (PFS) in March 2024, showing robust economics with an after-tax NPV of $3.2 billion and IRR of 24%.
2. Securing an Exploitation Contract in June 2024, granting development and operation rights for 33 years.
3. A $750 million Gold Stream Agreement with Franco-Nevada and Osisko Gold Royalties.
The company's focus for FY2025 includes advancing Cascabel, exploring additional financing opportunities, maintaining high environmental and social governance standards, and assessing strategic partnerships for its Ecuadorian exploration portfolio.
SolGold plc (LSE:SOLG)(TSX:SOLG) has provided an update on its Cascabel Project and other strategic initiatives. Key highlights include:
1. Preparations for the geotechnical program at Cascabel's Tailings Storage Facility are progressing, with drill rig mobilization planned for Q4 2024.
2. Assay results from soil samples at the Cielito Norte target within the Blanca Nieves project are under analysis, showing promising mineral potential.
3. SolGold is entering the consultation phase for permitting at the Porvenir Project.
4. The company hosted site visits from industry experts to review and refine Project development strategies for Cascabel.
5. Tenders have been issued to consulting firms to advance the Project to the feasibility study phase.
6. Exploration updates at Cielito Norte reveal high-grade gold occurrences and extensive geochemical anomalies.
7. SolGold is participating in key industry conferences to present recent achievements and strengthen stakeholder relationships.
SolGold PLC (LSE:SOLG)(TSX: SOLG) has announced the sale of 250,000 Ordinary Shares by the Mather Foundation , a Private Ancillary Fund associated with Non-Executive Director Nicholas Mather. The sale, finalized on August 12, 2024, was conducted to fulfill charitable obligations. Key points:
- 250,000 shares sold at £0.102 each, totaling £25,500
- Proceeds to support prostate cancer research, mental health, homelessness, and emergency flight care services in Australia
- Mr. Mather has no financial interest in the Mather Foundation
- Transaction executed on the London Stock Exchange
This sale is part of the Mather Foundation's annual requirement to monetize assets for charitable donations.
SolGold PLC (LSE:SOLG)(TSX:SOLG) has provided an update on its Cascabel Project, highlighting key developments in de-risking and advancing the project. The company has initiated a comprehensive geotechnical program to determine optimal infrastructure locations, with drilling set to begin in Q3 2024. SolGold is also forming a specialized project team, aiming to fill all positions by early Q4 2024, bringing experts in various fields on board.
The company has secured crucial permits, including the Cascabel Underground Exploration Permit and approvals for geotechnical drilling across all project areas. These milestones underscore SolGold's commitment to timely execution and progress in the Cascabel Project's development.
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