The project encircles the Taldybulak Levoberejnyi Mine, which was recently built by Zijin and contains 3.2 million ounces in reserves and resources at a grade of 7.2 g/t.
The company says it has seen a significant improvement over the past year, with prices up about 20%, but believes conditions are not where they need to be to restart idled capacity.
SolGold is frustrated at the rejection of its planned bid for Canadian firm Cornerstone, which holds 15% of the Cascabel copper-gold project in Ecuador.