Australian miner SolGold and Canada’s Cornerstone Resources have announced they agreed to work together on advancing the Casabel copper-gold project in Ecuador’s northern part, ending the companies’ dispute.
Keith Marshall, the interim chief executive of Solgold, said in a statement that for “too long our companies have been pulling in different directions. This initiative provides an opportunity for both companies to put away their differences and to work together for the collective good of the Cascabel Project.”
“Concurrently with advancing the Cascabel Project, the Parties will ex-plore and evaluate a range of strategic and financing options focused on maximizing value for their respective shareholders with respect to the Cascabel Project,” according to the statement.
The Ecuadorian project has been developed by Exploraciones Novomin-ing (ENSA), a joint venture established by SolGold and Cornerstone Re-sources which owns the Cascabel concession.