Company
OTCMKTS: LMGDF
Lumina Gold Corp. (TSXV: LUM) is a Vancouver, Canada based company focused on the Cangrejos Gold-Copper Project located in El Oro Province, southwest Ecuador. In 2023, the Company completed a Pre-Feasibility Study for Cangrejos, which is the 26th largest primary gold asset in the world. The Company is working to compete a Feasibility Study, permitting and an Investment Protection Agreement for Exploitation by the end of 2025. Lumina has an experienced management team with a successful track record of advancing and monetizing projects, having sold nine companies.
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The gold explorer recently closed a financing, raising gross proceeds of around C$24 million to advance the asset through drilling ahead of a pre-feasibility study
The firm plans to use the net proceeds from the offering for infill drilling, step-out drilling and pre-feasibility work at Cangrejos, which is located in Ecuador
The lack of new major deposits being discovered means that the project pipeline is increasingly short of large, high-quality assets needed to replace ageing major gold mines.
