New Cascabel PFS cuts initial capex

London- and Toronto-listed SolGold has announced the results of a new prefeasibility study (PFS) for the Cascabel project, in Ecuador, which supports a phased block cave mine development that substantially reduced the initial capital expenditure (capex) required. The PFS puts an initial capex price tag of $1.55-billion on Cascabel, which the company noted was a $1-billion saving on previous estimates.