https://www.miningweekly.com
Copper|Financial|Gold|PROJECT|Resources
Copper|Financial|Gold|PROJECT|Resources
copper|financial|gold|project|resources

SolGold considering phased development of Cascabel

16th May 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Copper/gold developer SolGold is evaluating a phased approach to the development of the Cascabel project, in Ecuador, with the aim of reducing upfront capital and shortening the development schedule.

SolGold also deferred the Cascabel definitive feasibility study and the Porvenir preliminary economic assessment, owing to the fluidity of the current capital cost landscape and the ongoing assessment of value-enhancing opportunities.

The company is prioritising capital allocation as part of a reorganisation plan, which also aims to reduce costs and headcount, to preserve financial resources while derisking Cascabel.

“SolGold plans to provide an update as the various value-adding options are evaluated and a clearer picture of the future direction of the studies and timeframes emerges,” it said in its management discussion and analysis accompanying its 2023 third-quarter report.

Regarding the ongoing strategic review, SolGold said that it was continuing to evaluate financing alternatives, including potentially spinning out non-Cascabel assets.

During the second quarter, SolGold completed a $500-million royalty financing with Osisko Gold Royalties in relation to the copper and gold project. The company also successfully raised $36-million by issuing 180 000 new ordinary shares to investors, including Jiangxi Copper.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.193 0.233s - 113pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: