{"id":1119856,"date":"2019-06-06T17:32:07","date_gmt":"2019-06-06T17:32:07","guid":{"rendered":"http:\/\/www.mining.com\/?p=992166"},"modified":"2019-06-06T17:32:07","modified_gmt":"2019-06-06T17:32:07","slug":"solgolds-stock-sinks-after-submissions-for-mining-referendum-on-cascabel","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1119856","title":{"rendered":"Solgold\u2019s stock sinks after submissions for mining referendum on Cascabel"},"content":{"rendered":"

Solgold\u2019s<\/span>\u00a0<\/span>(LON, TSX: SOLG)<\/span>\u00a0stock took another hit<\/a> on Thursday, the day\u00a0after<\/span>\u00a0submissions for a public hearing were heard in\u00a0Ecuadorean Constitutional Court regarding the\u00a0proposed referendum on mining in the provinces where the Australian miner\u2019s 85% owned\u00a0Cascabel project and other wholly owned exploration projects are located.\u00a0<\/span>\u00a0<\/span><\/p>\n

Solgold holds 72 mineral concessions in Ecuador through four subsidiaries.\u00a0<\/span>\u00a0<\/span><\/p>\n

Representatives from several Ecuadorean\u00a0government bodies, regional community representatives, pro-mining groups, international mining groups workers and\u00a0<\/span>community<\/span>\u00a0members\u00a0from\u00a0Cascabel attended the hearing to demonstrate their opposition to the proposal,\u00a0<\/span>Solgold<\/span>\u00a0said in a media release.\u00a0<\/span>\u00a0<\/span><\/p>\n

The court is expected to deliver its verdict\u00a0by June 24. \u00a0<\/span>\u00a0<\/span><\/p>\n

Earlier in the week, the vice president of the Republic of Ecuador, Otto\u00a0<\/span>Sonnenholzner<\/span>,\u00a0launched a new mining policy backing large-scale projects<\/a> in the country. The policy is designed to strengthen investment and increase production in the mining sector and sets out a framework for environmental and social sustainability.<\/span><\/p>\n

The policy document<\/a> establishes the framework for mining sector planning for the period 2019-2030 and defines the government decision that will allow consolidating this sector as a fundamental axis of the country’s economy, with a contribution to GDP of 4% by 2021.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

SolGold<\/span>\u00a0recently announced findings from its preliminary economic assessment (PEA) for the\u00a0<\/span>Alpala<\/span>\u00a0deposit in the Cascabel project in northern Ecuador. The project indicated approximately $17B (at $3.30\/<\/span>lb<\/span>\u00a0copper price and $1,300oz gold price) in taxes, royalties and profit shares to the government and peoples of Ecuador,\u00a0<\/span>Solgold<\/span>\u00a0said.<\/span>\u00a0<\/span><\/p>\n

Solgold\u2019s<\/span>\u00a0stock was down 8.6% Thursday morning, trading at 53 Canadian cents on the TSX.\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

The post Solgold\u2019s stock sinks after submissions for mining referendum on Cascabel<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Court is expected to deliver its verdict by June 24.   <\/p>\n

The post Solgold’s stock sinks after submissions for mining referendum on Cascabel<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,404,369,685],"tags":[39,48,71],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1119856"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1119856"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1119856\/revisions"}],"predecessor-version":[{"id":1119867,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1119856\/revisions\/1119867"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1119856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1119856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1119856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}