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SolGold plc ("SolGold" or the "Company")
New Ecuadoran Mining Bill Lifts
Cascabel Copper Gold Porphyry Project
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20 May, 2013
Key Points:
- New Mining Bill in Ecuador smooths exploration and Mine Development processes in Ecuador.
- Drill contractor selection completed for Cascabel first drill phase 2,500 m.
- Six drill hole locations finalised to test outcropping porphyry occurrence at high grade Alpala prospect over 1km2 to a depth of 600 m.
- New CEO, Alan Martin, former Colonial First State Global Resource Fund Manager commences role.
The Board of SolGold advises that the Government of Ecuador has presented a new Mining Bill to the Ecuadoran Congress. The Bill is expected to be passed quickly due to strong support from President Rafael Correa�s ruling Alianza Pais Party.
The Bill contains a number of concessions which SolGold believes will encourage mineral exploration and mine development in Ecuador. Importantly the Bill contains ceilings on mining royalties and promotes for capital payback prior to the application of windfall taxes.
The new Mining Act sets a framework for the development of Kinross Gold Corp $1.3 billion 14moz Fruta del Norte Project, Southern Ecuador and the Ecuacorriente $1.4 billion El Mirador copper project. Other developments are in the pipeline in Ecuador including the Rio Blanco Gold Silver Project, the Panantza San Carlos Copper Project and the Quimsacocha gold-copper-silver mine.
SolGold will expedite drilling and appraisal of its Cascabel and La Encrucijada Projects, commencing with its 2,500 m programme at the high grade Alpala Project at Cascabel. The drill program is awaiting final drill permits, a process which is well advanced.
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This email was sent by SolGold, Level 27, 111 Eagle Street, Brisbane Australia 4000
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Copper Creek Ventures
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CODE : CPV.V |
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Copper Creek est une société d’exploration minière de cuivre basée au Canada. Copper Creek est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 13,1 millions CA$ (10,2 millions US$, 8,4 millions €). La valeur de son action a atteint son plus haut niveau récent le 20 août 2010 à 2,30 CA$, et son plus bas niveau récent le 28 février 2014 à 0,01 CA$. Copper Creek possède 33 480 000 actions en circulation. |