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Lumina Gold Corp. (TSXV: LUM) is a Vancouver-based exploration and development company focused on the Cangrejos Gold-Copper Project in Ecuador. The company recently completed a Pre-Feasibility Study for the project, showcasing its potential as the largest primary gold deposit in Ecuador.
With a strong management team and a successful track record of advancing exploration projects, Lumina Gold Corp. is committed to furthering its activities and achieving its goals. The company is currently funded by a substantial financing package from Wheaton Precious Metals, demonstrating confidence in its future prospects.
Lumina Gold Corp. (OTCQX: LMGDF) announced positive findings from its Preliminary Feasibility Study (PFS) for the Cangrejos Project, confirming the expansion of gold reserves and resources. The study indicates:
- Probable gold reserves have increased to 11.6 million ounces.
- The after-tax NPV is estimated at
US$2,238 million . - Annual payable production is projected at 371,000 ounces of gold and 41 million pounds of copper.
- The project is poised to begin permitting and negotiation for an Investment Protection Agreement.
- With a mine life of 26 years, the project ranks as the 26th largest primary gold asset globally.
Overall, the study suggests significant potential for future growth and profitability for stakeholders.
Lumina Gold Corp. (OTCQX: LMGDF) announced positive results from its metallurgical test work for the Cangrejos Copper-Gold project. The tests achieved an impressive 84% gold recovery, surpassing the 82% recovery from the 2020 Preliminary Economic Assessment (PEA). The company has simplified its processing flowsheet by eliminating certain materials and circuits. Key components of the ongoing Pre-Feasibility Study (PFS) are on track for completion in Q2 2023, including resource estimations and revised mine plans. CEO Marshall Koval stated that the PFS remains on target, with significant progress in various areas.
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