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