SolGold is considering selling the Cascabel copper-gold project

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SolGold is getting closer to making a potential sale of its Cascabel copper-gold project in Ecuador. The company is in talks with 20 interested companies.

Last year the company which merged with Cornerstone Capital Resources to consolidate 100% ownership of Cascabel, said that at least five companies have made site visits.

Scott Caldwell stated, “External groups evaluating the project are being very diligent in their review as they progress through various stages in their internal processes”.

In July 2023 SolGold concluded with the Ecuador government to develop a major mine requiring a $4.9 billion investment over the project’s lifetime.

25-year concession

Based on the agreement SolGold has secured a 25-year term renewal for the concession. It is evaluated that the underground Cascabel mine will generate $35 billion in exports while attracting around $8 billion in royalties and taxes to state coffers during its operating life.

Mineral reserves at Cascabel are evaluated at 3.3 million metric tons of copper, 9.4 million ounces of gold, and 30 million ounces of silver.