- SolGold (TSX:SOLG) provides an update on its achievements over the past year, including progress made at its Cascabel Copper-Gold Project
- The company signed an Exploitation Agreement with Ecuador for the Cascabel Project to advance development and secure regulatory support
- SolGold also secured US$750 million streaming agreement with Franco-Nevada and Osisko, boosting funding for project progression.
- Shares of SolGold are unchanged at C$0.145
SolGold (TSX:SOLG) reveals an update on its achievements over the past year, which includes progress made at its Cascabel Copper-Gold Project in Ecuador.
In a news release, the company stated one key achievement notched this year was the signing of an Exploitation Agreement with the Ecuadorian government, granting SolGold key regulatory approvals for the Cascabel project.
This agreement, paired with the release of a comprehensive Preliminary Feasibility Study (PFS), confirmed the project’s vast potential as a multi-generational copper mine.
“With significant advancements at Cascabel and critical partnerships in place, we are excited about our strategic vision and committed to delivering long-term value for our shareholders, partners, and communities,” Scott Caldwell, CEO of SolGold, said in a news release.
The PFS, which covers just 18 per cent of the Alpala deposit, projected a robust after-tax internal rate of return (IRR) of 24 per cent, with a net present value (NPV) of $3.2 billion. Notably, the economic model is based on copper, gold, and silver prices significantly lower than current market levels, suggesting even greater upside potential.
SolGold also stated that it secured a US$750 million streaming agreement with Franco-Nevada and Osisko Gold Royalties, which will fund continued development at the Cascabel project.
Beyond Cascabel, the company has made significant headway with regional exploration. Notably, SolGold has identified a promising new porphyry target at the El Cielito Norte prospect 8 kilometres from Cascabel.
Recent assays have revealed high-grade gold in the epithermal halo, enhancing the project’s potential for future integration. The company’s regional exploration portfolio continues to expand, with a focus on advancing assets through joint ventures, partnerships, and potential divestments.
Looking ahead, SolGold’s strategy for 2025 includes advancing key studies at Cascabel, securing timely permitting approvals, and exploring additional financing options.
Based out of Australia, SolGold is an exploration company focused on the discovery and development of copper and gold deposits. Its portfolio includes key projects such as Cascabel, Chical, Rio Amarillo, Chillanes, Salinas, Cisne Victoria, Coangos, Helipuerto, Cisne Loja, Porvenir, and Timbara.
Shares of SolGold are unchanged at C$0.145.
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(Top image: SolGold)