Tobar ZVS is pleased to announce that the Term Sheet has been signed on July 19, 2023, between SolGold and the Government of Ecuador for the development and exploitation of the Cascabel gold and copper project. The Cascabel project is the most important deposit discovered in Latin America in recent years and the largest mining project in the region, with initial investments of US $3+ billion.
Tobar ZVS’s Partners César Zumarraga and Juan Fernando Larrea led the negotiating team during the past months. This is an extraordinary milestone for the mining industry, for the economic growth of Ecuador and, especially, for the communities of Cascabel. The government’s legal team of the Ministry of Energy and Mines was counsel to the Government of Ecuador.
Scott Caldwell, CEO of SolGold Plc stated: "At SolGold we are very satisfied with this achievement and with the terms of a negotiation managed with great professional quality and efficiency by the Tobar ZVS team led by César Zumarraga."
Mr. Caldwell thanked the National Government and its authorities for having concluded a mutually satisfactory process, which will be a great precedent for attracting future investments to the Country.
“Tobar ZVS is honored to have accompanied SolGold in the negotiation of the Exploitation Contract with the government of Ecuador. We have been their corporate lead firm since day one when they landed in this country, and we have witnessed the entire history of Cascabel from its birth to become one of the most important copper, gold and silver deposits in the world” commented César Zumarraga.