Lumina Gold Corp Stock Price, News & Analysis

Lumina Gold Corp (OTCQB: LMGDF) has successfully completed a private placement of US$20 million in unsecured convertible notes. The notes carry a 6.0% annual interest rate and are subject to a four-month hold period ending September 7, 2025, in compliance with Canadian securities regulations. The company highlighted that no securities were issued as bonuses, finder's fees, or commissions in connection with this private placement.

Lumina Gold Corp. (LMGDF) has announced a definitive agreement to be acquired by CMOC in an all-cash transaction valued at C$581 million. Under the agreement, CMOC will acquire all outstanding Lumina shares for C$1.27 per share, representing a 71% premium to Lumina's 20-day VWAP and 41% premium to the closing price as of April 17, 2025.

The transaction includes a concurrent US$20 million convertible note financing from CMOC with a 6.0% annual interest rate, convertible at C$1.00 per share. Shareholders representing 52.3% of Lumina shares have agreed to support the transaction. The deal is expected to close in Q3 2025, subject to shareholder approval and regulatory conditions.

The Cangrejos project, developed over 10 years from no defined resources to potentially becoming one of the largest gold projects globally, will transition to CMOC's ownership upon completion.

Lumina Gold Corp (OTCQB: LMGDF) has received the final installment of US$3.1 million from Wheaton Precious Metals International under their US$300 million precious metals purchase agreement (PMPA). This draw brings the total advanced amount to US$48 million, with US$252 million remaining to be advanced once construction conditions are met.

The PMPA has been amended to provide Lumina more flexibility for pre-construction acquisition transactions. Under the amendment, Lumina has until December 31, 2025, to utilize the final installment on qualifying transactions, with any unused portion to be returned to Wheaton.

Lumina Gold (LMGDF) has secured important power infrastructure approvals for its Cangrejos gold-copper project. On January 15, 2025, CELEC approved the definitive feasibility level designs for connecting to Ecuador's national grid, including two dedicated transformers at La Avanzada substation and a 20-kilometer 138 kV transmission line to the Project.

The Feasibility Study, led by Ausenco Engineering Canada ULC, is 92% complete and on track for Q2 2025 completion. Key completed components include updated mineral resource estimates, mine planning, process facility design, infrastructure engineering, metals marketing study, vendor quotes, and major equipment selection. The team is now finalizing capital and operating cost estimates.

The Environmental Impact Study (EIS) is progressing as planned, with submission to Ecuador's government expected in mid-2025. The company aims to receive its Environmental License for construction and operation by early 2026.

Lumina Gold (TSXV: LUM) (OTCQB: LMGDF) has secured an extension of its Exploration Investment Protection Agreement with the Government of Ecuador. The extension now covers investments from 2010 through 2024, protecting a total investment of US$79 million. This development follows recent achievements including a 25-year extension of the Los Cangrejos concession and completion of Exploitation Contract terms.

The company expects to execute the addendum to the agreement by public deed in the coming weeks and is working towards completing a Complimentary Investment Protection Agreement for the Cangrejos construction period (2025-2031). The ongoing Feasibility Study results are anticipated in Q2 2025.

Lumina Gold Corp. (TSXV: LUM) has announced its participation in an upcoming live virtual corporate update hosted by Red Cloud Financial Services. The webinar is scheduled for December 12th, 2024 at 11:00 ET. The event will include a live Q&A session moderated by Red Cloud, and a replay will be available to all registrants following the presentation. Shareholders and interested parties are invited to register for the event through Red Cloud's website.

Lumina Gold has drawn an additional US$6.0 million under its US$300 million precious metals purchase agreement with Wheaton Precious Metals International. The company has now drawn a total of US$44.9 million and can access up to US$3.1 million more for specific pre-construction capital items. Additionally, Lumina has retained Oak Hill Financial for investor relations services at C$10,000 per month, starting January 2025 for an initial three-month term.

Lumina Gold (LMGDF) has completed negotiations and signed a binding term sheet for the Exploitation Contract with Ecuador's government for its Cangrejos project. The agreement includes an advanced royalty payment of US$25.0M to be paid in four installments, and establishes sliding-scale NSR royalties for gold (3-8%), copper (3-8%), and silver (3-8%) based on price thresholds. Wheaton Precious Metals is expected to fund the remaining US$6.0M of the Early Deposit on December 2, 2024. The company's Feasibility Study is expected in Q2 2025, and environmental licensing processes are anticipated to be completed in 2025.