Silvercorp acquired a majority stake in July when it bought Adventus Mining in an all-stock deal valued at C$200 million. Adventus had previously partnered with Salazar to advance the project. Salazar retains a 25% stake in the project, carried to production, while Silvercorp holds the balance and leads development.
The ruling removes the last major obstacle for the $250 million project, located 150 km northeast of Guayaquil. It will allow Silvercorp to ramp up site infrastructure construction. BMO Capital Markets mining analyst Kevin O’Halloran said that his talks with management indicated that dismissing the appeal was a key step before making a formal construction decision.
“While the decision was expected, it is essential for advancing toward the formal construction phase, with production targeted for late 2026,” he wrote Friday in a note to clients.
A 2021 feasibility study for Curipamba-El Domo,…
