Scotgold shares fall on Cononish mine delayed ramp-up

The Vancouver-based company says there is potential to discover a sizeable porphyry style copper-molybdenum-silver deposit on the property.

Underpinning investor confidence are the country’s vast mineral riches.

Ivanhoe can now finance Kakula and Kipushi mine to commercial production, and significantly advance, or achieve, production at the company’s Platreef Project in South Africa.

The licenses the miner is acquiring cover historical copper-silver resources in the Kalahari Copper Belt and the Kaoko Belt.

SailingStone Capital, the second largest shareholder in Rio Tinto- controlled Turquoise Hill is expected to vote against the re-election of the Canadian miner’s board members this week.

The company added 4,800 hectares to the mine site by signing a deal with a local prospector and through staking.

The Vancouver-based company says its flagship gold and silver mine in northern Ecuador is 59% complete.

The increase in the indicate category equates to 134 million ounces silver equivalent or 2.0 billion pounds zinc equivalent.

Foreign and local companies invested about $383 million exploring in Mexico in 2018, down 37.4% from the $612 million injected into the economy in 2017.