SOLG-NEW DISCOVERY-S.Ecuador, page-75

Ref: "We think its the best discovery since Oyu Tolgoi"-Bob Sanha, Banker, Maxit Capital, Canada. [Notation 2 of the linked post]

"Oyu Tolgoi signs Project Finance Agreement."- Rio Tinto announcement, 15 Dec 2015

Link: www.riotinto.com/media/media-releases-237_16275.asp

Extract:
"The development of the Oyu Tolgoi UNDERGROUND w mine in Mongolia took an important step forward today with the signing of a US $4 billion project financing agreement...with funding from International Financial Institutions & Export Credit Agencies representing the govts of USA, Canada, Australia along with 15 commercial banks."

"Construction of an OPEN PIT was completed on schedule in less than 24 months & production started in 2013. More than 1.5 million tonnes of copper concentrate have now been produced from Oyu Tolgoi. More than 80% of the value of Oyu Tolgoi lies in the Underground Mine. Some $6.4 billion has been invested to develop the Open Pit Mine at Oyu Tolgoi."

Comment:

From the said article one can see all the names of the financial institutions involved.
As many will be aware, Alpala [1 target at Cascabel, Ecuador] appears to be an potential Underground Mine operation.

From past announcements, Aguinaga (Cascabel) that will be drilled in 2018 [planned] appears to be the more surface expression and may be potentially the open pit mine. Investors are not told exactly which may form the potential open pit mine for Cascabel.

<> "Oyu Tolgoi - www.riotinto.com/copperanddiamonds/oyu-tolgoi-4025.aspx
[Rio Tinto website]

Extract:
"Oyu Tolgoi is owned by the Govt of Mongolia (34%) & Turquoise Hill Resources (66%, of which RioTinto owns 51%). Since 2010, RioTinto has also been the Manager of the Oyu Tolgoi project. Oyu Tolgoi is expected to operate over 50 years."

<> 2Oyu Tolgoi^s First production from the Underground Phase is anticipated in 2020. Oyu Tolgoi*s open pit has been producing copper since 2013."
Link: www.riotinto.com/ourcommitment/spotlight-18130_19699.aspx

Comment:

From my previous linked post, it appears that Cascabel appears to be potentially TWICE of Oyu Tolgoi as per the date given (no updated figures).

Today, Turquoise Hill quoted on the NYSE:TRQ (USA), the share price is $3.12 with a Market Capitalisation of $6.2 billion and P/E 28.05 with shares in issue of 2.01 billion. [Ref: Google Finance] Thur 9 Nov 2017

Background: As many will be aware, Robert Friedland of Ivanhoe Mines found Oyu Tolgoi.

It is too long a audit trail to go into the Turquoise Hill mining activities and a/cs. One can check.

I am posting the above to give an idea of the Oyu Tolgoi financing etc and how long a big project takes. Currently, Solgold^s share price is 27.75 British pence, Market Cap £420 million.

One will note that in the case of Turqoise Hill Resources, the model changes from initial mine development to potential revenue from the open pit.

No two projects are exactly the same since Cascabel Ecuador is not Mongolia and therefore the cost structures, financing etc are different.

In the Solgold^s Annual Report just released [see linked post], the Chairman said that Nicholas Mather has been the one to secure financing.

On the London bulletin board/s, the discussion is about financing.

<>SOLGOLD- Southern Ecuador discovery, La Mueca which has been stated from the announcements to be 3 times Cascabel (please check). Southern Ecuador is closer to Peru. This was a surprise. Nicholas Mather talks of other opportunities in their new tenements in Ecuador in his interview with HotCopper recently at IMCR, Melbourne which is the biggest mining conference (the video interview is at the top of the Hot Copper DGR page).

Sol1, Hot Copper poster, Thur 9 Nov 2017
Please check as there can be errors. Please do due diligence. As investors, we have to await official announcements via Solgold {London & Toronto listed} for further news.