Another year goes by, and what a triumphant year it has been for SolGold. We end the year as the largest most active explorer in the most under explored and prospective copper belt in the world; with an enviable budget and the largest team of well-trained, exploration geologists in Ecuador. SolGold’s potential is no longer just in Cascabel, the Company’s upside is Ecuador, where we believe we have the opportunity to discover several world-class projects that will ultimately match or exceed the Cascabel project. Our pan-Ecuadorian strategy, first unveiled in May, continues to develop, with the country’s Department of Mines recently awarding us 77 new concessions across almost 3,248 km2, and is already showing promise. These new concessions are held by four new 100% owned local subsidiaries; Valle Rico, Green Rock, Cruz del Sol, Carnegie Ridge. Exploration to date at our 100% owned La Hueca project in southern Ecuador suggests a 25km long porphyry trend, with the best rock chip samples ranging from 1.8% to 13.82% copper over a 5km by 1km area. Other concessions subject to reconnaissance and field mapping and rock chip sampling are Porvenir, San Antonio, Sharug, Agustin and Rio Amarillo. Initial rock chip samples have returned grades of up to 12% copper. At Cascabel work continues at pace. We have completed over 56,800m of drilling and the Cascabel drilling fleet is constantly expanding. We are on schedule to release our maiden resource estimate by the end of the year and plan to update this on a regular basis as Alpala Central is still open in multiple directions, Alpala Northwest continues to expand and Alpala East is also showing promise. Over 120,000m of drilling is planned for 2018. Alongside significant operational progress, SolGold has also made substantial corporate developments. In July, we listed on the Toronto Stock Exchange (TSX) and in October we moved from AIM to the Main Market on the London Stock Exchange (LSE). These developments have provided greater access to institutional investors worldwide and elevated SolGold’s international profile. Newcrest invested a further USD40m in June to increase its stake in SolGold to 14.5%. Craig Jones has been a very welcome addition to the Board given his operational and block cave mining expertise. In November, we announced the closing of our £45m bought deal. This puts us in a great position to continue our exploration to advance our flagship Cascabel Project, selective regional exploration in Ecuador, working capital and general corporate purposes. Finally, as a result of SolGold’s ethos to do things differently we have had huge successes this year, with the SolGold team, Ecuador and our CEO, Nick Mather, being recognised amongst its Latin American peers at the Mines and Money awards in Toronto and globally at the Mines & Money awards in London. SolGold won the Exploration Award and Ecuador was acknowledged for its measures to further its mining industry, winning the Latin America Country Award for 2017 and the Most Innovative Country. Our CEO, Nicholas Mather, won the coveted CEO of the Year (Latin America) award and the CEO of the Year (Exploration) in London. SolGold would like to thank you for your continued and unwavering support. We look forward to another successful year in 2018. Have a great Christmas and a very happy new year!
STUDY MANAGER Eduardo is a mining engineer with an Honours Degree in Mining Engineering, from the University of Chile and Master of Business (International Management) from Curtin University in WA and extensive mining industry experience in Australia, Latin America, USA, the Middle East and Asia, working with top-tier and junior mining companies and consulting organizations including BHP Minerals, Western Collieries, Anaconda Nickel, IFC (World Bank), BHP Engineering, SKM, Hatch and Amec Foster Wheeler among others. Eduardo’s background includes:
- Extensive project management and mine operations experience across a wide range of mining projects and commodities including copper, gold, silver, zinc, nickel, iron ore, lithium, coal and industrial minerals.
- Extensive multi-disciplinary feasibility study management experience covering geology, mine planning, ore processing, materials handling and infrastructure, involving a variety of mining projects in Australia and overseas.
- Strategic planning, business development, and mine consulting experience covering most technical and operational aspects of mining and project improvement.
- Experience in project financing with the International Finance Corporation (World Bank) both as staff member based in Washington DC and subsequently as a consultant providing advice to the IFC on mine project financing primarily in the Asia Pacific and Latin America regions.
- Corporate experience including roles such as Technical Director, VP Business Development, Non-Executive Director, and Non-Executive Chairman with ASX listed companies.
- Experience in the sourcing, evaluation, and acquisition of mine exploration projects in Latin America and Australia.
- A wide network of mining industry and project financing contacts in Australia, Latin America and the USA.