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Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) is a Vancouver-based precious and base metals exploration and development company that focuses on gold and copper projects in Ecuador. With inferred and indicated mineral resources at the Condor Gold-Copper project in the Zamora-Chinchipe Province, Luminex also maintains a significant land package in Ecuador. The company recently announced positive results from metallurgical testing at the Los Cuyes deposit, showcasing high recovery rates and potential economic benefits. Luminex is actively engaged in joint ventures and agreements, such as the Pegasus Earn-In deal with Anglo American, aiming to leverage its expertise and resources for successful exploration and development projects.
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Luminex Resources Corp. (LUMIF) announces overwhelming shareholder and optionholder approval for the proposed acquisition by Adventus Mining Corporation. The Arrangement Resolution was approved by 99.97% of the votes cast by shareholders, and the completion is expected on January 25, 2024, pending court approval and other closing conditions.
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Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) has successfully reached an agreement with Anglo American plc to amend and restate the Pegasus earn-in and joint venture agreement. Under the Amended Earn-In Agreement, the Company has agreed to Anglo American having a right to earn-in and retain the original 60% earn-in ownership threshold by spending US$15M more than expenditures to date, of which US$10M must be allocated to direct drilling costs. Luminex will also be owed US$3.9M by way of cash payments to complete the earn-in to 60% ownership. The parties have agreed to exit a portion of the exploration tenure (Pegasus B) and reduce the concession size at Pegasus A. The CEO, Marshall Koval, expressed optimism about the potential for large-scale copper porphyry discoveries at Pegasus.
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Lumina Gold Corp. (TSXV: LR) (OTCQX: LUMIF) Announces Positive Results from Annual Shareholders Meeting in Vancouver
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Luminex Resources Corp. announces positive results from its metallurgical test program at the Los Cuyes deposit, with 95% gold recoveries using whole ore cyanidation and 96% gold recoveries using flotation on the Cuyes West high-grade composite. The high recovery rates represent an important step in advancing the Condor North project. The company holds a large and highly prospective land package in Ecuador.
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Luminex Resources Corp. is in discussions with Anglo American to amend the terms of the Pegasus Earn-In, suspending the withdrawal notice for 45 days.
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Luminex Resources Corp. signs agreement with 17 artisanal miners in the Condor Project, securing areas for mine development and satisfying miners' desire for legal concession rights. The agreement creates 63 hectares of formalized concessions and is expected to benefit individuals within the project's area of influence.
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Luminex Resources Corp. announces that Anglo American has withdrawn its option to increase ownership in the Pegasus project in Ecuador. Delays in drilling at Medusa South have occurred due to surface access issues. Luminex and Anglo American may discuss realigning the earn-in agreement terms. Anglo American has spent approximately $26 million. Luminex believes the area offers attractive copper porphyry targets. The next concession payments for Pegasus are due in March 2024.
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Luminex Resources reaches historic agreement with informal miners in Condor North, positively impacting stock price.
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Luminex Resources Corp. reaches historic agreement with informal miners in Condor gold project in Ecuador
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Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) announced successful drill results from two holes at the Cuyes West structure, including high-grade gold and silver intersections. The company anticipates expanding the mineral resource at Condor and updating its Preliminary Economic Assessment in 2024.
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FAQ
What is the market cap of Luminex Resources (LUMIF)?
The market cap of Luminex Resources (LUMIF) is approximately 22.8M.
What are the core focus areas of Luminex Resources Corp.?
Luminex specializes in precious and base metals exploration and development, particularly in gold and copper projects located in Ecuador.
What recent achievement did Luminex announce regarding the Los Cuyes deposit?
Luminex reported positive results from metallurgical testing at the Los Cuyes deposit, highlighting high recovery rates and potential economic benefits from the project.
What joint venture agreements is Luminex currently engaged in?
Luminex is actively involved in agreements like the Pegasus Earn-In deal with Anglo American, aimed at leveraging resources and expertise for successful exploration and development projects.
Luminex Resources Corp.