Getting Cascabel over the finish line - SolGold weighs options for $1.3 billion project

SolGold’s Cascabel copper-gold project in Ecuador is undergoing a strategic review process wherein the company is looking at several options including a joint venture, earn-in or concentrate offtake. CEO Scott Caldwell spoke to Kitco mid-September at the Gold Forum Americas 2023 held in Colorado Springs, CO. “There's a number of parties interested in the projects, whether it be outside exploration at Cascabel, we’ve have signed CAs [confidentiality agreements], we've had site visits,” Caldwell said, adding “It continues to advance but no set timeline, it’s an interesting process and a lot of parties are taking a good hard look.” SolGold stopped its definitive feasibility study to save costs and is instead working on what Caldwell calls “a phased approach”. This may include a modified pre-feasibility study, a smaller starter pit, and/or shorter development schedule. “We're also doing what I call low-cost advancement of the project in the field,” said Caldwell, pointing to the signing of an option to purchase a tailings storage facility, getting the right-of-way to a tails and concentrate pipeline to the coast via an old railway line, and negotiating an exploitation contract with the government. “These are low-cost initiatives that aren't costing us millions of dollars in engineering work to negotiate the contracts in Ecuador,” he said. In terms of capex, Caldwell estimates an initial $1.3 billion, with engineers basing development on the block cave mining method. Once Cascabel is constructed, it is set to become a prominent South American copper and gold mine, ranking among the top 20. Kitco Mining’s coverage of the Gold Forum Americas 2023 was sponsored by Metalla Royalty & Streaming Ltd. 0:00 Cascabel project 2:41 Shareholder conflicts 3:51 Modified PFS 6:54 Capex 8:31 Share price 9:24 Country risk 11:37 Copper price 12:32 Catalysts _________________________________________________________________ Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices. Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com Stay connected with us Twitter -   / kitcomining   Instagram -   / kitcomining   LinkedIn -   / kitco-mining   Facebook -   / kitcomining   Connect with the Kitco Mining anchors Michael McCrae -   / michaelmccrae   Paul Harris -   / paulharrisgold   For more in-depth mining coverage, visit us here - https://www.kitco.com/mining Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.