the fate of SolGold’s (LON, TSX:SOLG) projects in Ecuador have been somewhat
cleared up after the government and indigenous groups reached
a deal to end protests, following talks brokered by the UN and the Catholic
Unrest stemmed from the government’s decision on October 1
to remove fuel subsidies in order to comply with International Monetary Fund
Violent demonstrations escalated
last week after President Lenin Moreno, whose austerity measures set off
violent protests, fled capital Quito and sought refuge in the
southern port city of Guayaquil, triggering rumours of a coup d’État.
As part of the recent deal struck between Ecuador and protesters,
the government has agreed to restore fuel subsidies immediately.
The company reiterated its operations remained “unaffected”
by the turmoil, adding that it was on track to deliver a third mineral resource
estimate of the Alpala deposit in the fourth quarter of 2019 and a
pre-feasibility study in the first quarter of 2019.
“The Cascabel project is a key project in Ecuador’s
developing mining industry [which]
Is located away from any protected areas and away from any
indigenous ancestral areas,” the copper and gold explorer said
in the statement.
SolGold noted it expected to replicate Cascabel’s economic
contribution with its 12 other projects across the country.