11:42 AM EST, 03/06/2024 (MT Newswires) -- SolGold Plc ( SLGGF ) said Wednesday that it signed a joint declaration with the Government of Ecuador in preparation for the execution of the complementary Investment Protection Agreement (IPA) for the Cascabel project.

Under the terms, SolGold ( SLGGF ) committed to invest US$3.2 billion in the project in addition to the US$311 million investment addressed in the current IPA.

SolGold ( SLGGF ) said the complementary IPA represents the largest mining investment in Ecuador's history.

"The complementary Investment Protection Agreement not only reinforces the protections for our key investment in Ecuador but also symbolizes a deepening of our relationship with the Ecuadorian State," SolGold ( SLGGF ) President and CEO Scott Caldwell said.

SolGold ( SLGGF ) at last look surged 17.4% on the TSX in early Wednesday trading and jumped 19.4% in London trading.

Price: 0.14, Change: +0.02, Percent Change: +17.39