Lumina Copper Corp LCPRF

lumina captial lens lumina copper 10 millon bucks

[thedave2006]

they wont let this project go to waste.

 

cheers,

dave.

[yopeace12]

Nope.  I guess a loan is better than giving away stock at these prices.  Although, 10 mil is probably only good for 2-3 months.  Hopefully, some major decides to this is the right time to go for a steal and bids for the company.  Currently, what price do you think management, ie Ross Beaty, would be willing to sell the project for tomorrow?

[MidasTouchez]

Lumina's latest press release:https://tmx.quotemedia.com/article.php?newsid=51639360&qm_symbol=LCCLumina has just borrowed 10 million Canadian for 6 months from Lumina Capital Limited Partnership. I don't understand this. Why 6 months? They aren't mining anything and they can't pay it back in 6 months time. I suspect that they can extend it every six months but why don't

[yopeace12]

There are a couple of possibilities in my opinion.  First, and most likely, it is simply an alternative to issuing more shares now.  They know the company is worth my than it is currently trading for and don't want to give away cheap shares.  I suppose Lumina Capital could just take down all the shares but that might upset people.  However, being that they will need more

[MidasTouchez]

I guess that a $10m private placement would cover it. A recent private placement was for $30m.