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SolGold PLC on Wednesday said it is evaluating a potential near-surface starter-pit opportunity at the Tandayama-America deposit, located at Cascabel. Shares in SolGold climbed 14% to 23.85 pence on Wednesday afternoon in London. The Ecuador-focused gold and copper mining firm said recent internal studies defined a 60.2 million-tonne-potential open pit at a copper equivalent grade of 0.4%. SolGold said this demonstrates ‘strong potential to support the early development sequence’ at its Cascabel project, which contains the Tandayama and Alpala deposits. The company said the potential open pit is characterised by features which are ‘designed to provide a high-confidence source of early mill feed.’ ‘This scenario is a compelling option that complements the planned longer-term ramp-up of the Alpala underground mine by providing earlier production and cash flow, thereby enhancing the project’s overall development,’ said SolGold. Chief Executive Dan Vujcic said: ‘A Tandayama starter operation would provide SolGold a tangible opportunity to accelerate the Cascabel project. The near-surface nature of the deposit’s strong grade profile, combined with the high proportion of Measured material in the 60.2 Mt case, provides an attractive early-mining option that fits well into the development pathway.’ ‘Optimising the overall Cascabel plan ensures smoother permitting and infrastructure decisions to accommodate the full range of potential outcomes, creating near-term returns for our shareholders while significantly de-risking potential sub-level cave and block cave operations at Alpala in the future,’ Vujcic added. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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