|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||18.96 - 19.20|
|52-week range||16.18 - 41.85|
|Beta (5Y monthly)||1.17|
|PE ratio (TTM)||N/A|
|Earnings date||14 Feb 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||1.26|
Solgold (LON:SOLG) is an Australia-based copper, gold exploration and development company with assets in Ecuador, Solomon Islands and Australia. The group has8230;
Ecuador's constitutional court has rejected a petition for local consultation on a mining ban in a province in southern Ecuador, following a ruling covering a northern province and allowing copper miner SolGold to press ahead with exploration. In June, the constitutional court ruled against a request to require community consultations for a planned copper and gold mine at Cascabel, potentially one of Ecuador's biggest mining projects to date. In a statement on Thursday, SolGold said the constitutional court had also has ruled against a petition to seek local consultation on banning mining within the province of Azuay, southern Ecuador.
Ecuador's market-friendly President Lenin Moreno is cracking down on illegal gold miners, who are increasingly encroaching on formal mines, but keeping them away from an Australian billionaire's concession for good may prove a tall order. Moreno last month sent 4,000 troops and police to clear thousands of miners from a gold and copper mining concession belonging to Hancock Prospecting, controlled by Gina Rinehart, Australia's wealthiest person. Now, with the area under a 60-day state of emergency and military and police guarding nearby Buenos Aires parish, authorities say illegal mining, also known as wildcatting, at the Imba-2 concession has stopped.
The government of a key mining province in southern Ecuador has proposed a popular referendum on the development of new mines in the region, the latest obstacle to market-friendly President Lenin Moreno's efforts to attract foreign mining investment. Azuay province is home to several potentially lucrative gold, silver and copper projects, including the Loma Larga project operated by Canada's INV Metals and the Rio Blanco mine, owned by a Chinese consortium consisting of Junefield Mineral Resources Limited and Hunan Gold Group.
Ecuador's Constitutional Court on Thursday ruled against a request to require community consultations for a planned mining project, allowing Australia's SolGold to move forward with developing its Cascabel copper, gold and silver mine. The project is in the advanced exploration phase and is one of the most ambitious mining projects in Ecuador, which hopes to develop mineral resources to spur its sluggish economy and wean dependence on crude oil exports. In its ruling, the court said such a popular referendum was incompatible with the Andean country's laws.
A preliminary study of the Cascabel mining project in northern Ecuador shows that it could become one of the world's largest copper, silver and gold mines, Ecuador's government said on Wednesday. The project, operated by Australia's Solgold, is in the advanced exploration phase. It is one of the most ambitious mining projects in Ecuador, which hopes to develop mineral resources to spur its sluggish economy.
SolGold is in talks with financiers keen to invest in its Ecuadorian copper-gold prospects and mining major BHP could increase its stake in the company, SolGold's chief executive said on Monday. In a preliminary economic assessment of the Alpala copper-silver-gold deposit in northern Ecuador released earlier, London-listed SolGold said annual copper output should be 207,000 tonnes for the first 25 years of a mine life of roughly half a century. Ecuador has attracted a flurry of interest from big miners eager to increase their exposure to copper.