SLGGF - SolGold: First Part Of Cascabel Funding Is Secured

Introduction

On May 11, Ecuador-focused copper and gold mining company SolGold (SLGGF) announced that it has secured a $100 million royalty financing package from Franco-Nevada (FNV) for its Cascabel project in northern Ecuador, paving the way for the development of the latter without significant dilution for shareholders.

Sure, the start-up capital expenditure is $2.4 billion to $2.8 billion, but this is a step in the right direction and SolGold should announce a debt package soon.

Cascabel and Alpala

(Source: SolGold)

Cascabel is located on the northern section of the Andean

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