Lundin Gold Inc T.LUG

Alternate Symbol(s): LUGDF

Metals & Mining Gold

Lundin Gold Inc. is a Canada-based mining company. The Company owns the Fruta del Norte gold mine in southeast Ecuador and a large exploration land package that hosts the Fruta del Norte deposit at its northern edge. The deposit is hosted in the La Zarza concession, located in the 38 square kilometers (km2) Suarez Pull-Apart Basin. Fruta del Norte deposit is located within a 150 kilometers (km) long copper-gold metallogenic sub-province in the Cordillera del Condor region in southeastern Ecuador. It is comprised of seven concessions covering an area of approximately 5,566 hectares and is located approximately 140 kilometers (km) east-northeast of the City of Loja. Fruta del Norte deposit is an intermediate sulphidation epithermal gold-silver deposit measuring approximately 1,670 meters along strike, and 700 meters down dip. Its mineralogy consists of chalcedonic to crystalline quartz, manganese carbonates, calcite, adularia, barite, marcasite and pyrite.

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Lundin Gold Inc

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Post by bossuon Feb 22, 2023 8:40pm

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Post# 35299794

Bullish sentiment

Bullish on Lundin Gold Inc.

Lundin Gold

LUG-T

-0.38%

(Wednesday’s close $13.07) rallied from $4.59 in January, 2019, to $13.49 in February, 2020 (A-B), and reversed the trend briefly in March, 2020 (C), then quickly returned toward the previous high (D).

The stock settled in a slightly descending channel for almost three years (dashed lines) and, after a brief dip below this channel in July (E), started an up-leg which pierced above the top of the channel to signal an important breakout (F).

Behaviour indicators including the rising 40-week Moving Average (40wMA) and the rising trend line (solid line) confirm the bullish status. Lundin Gold is currently in the midst of a minor correction for a better entry level. There is good support near $12-13; only a sustained decline below the 40wMA (currently near $11) would be negative.

After a correction, Point & Figure measurements provide an initial target of $17. Higher targets are visible.