Lundin Gold Inc T.LUG

Lundin and Newcrest start new area in Ecuador

[Beabaggage]

NCM controls Lundin and I doubt they would sell.. maybe even see NCM buy LUG when they have digested PVG.  
Newcrest's exploration report is out today updating Red Chris (III JV )  and Havieron (Greatland Gold PLC JV) with more excellent results expanding resources.   Here is the LUG part of the NCM report..  
Northern Andes, Ecuador

Drilling has commenced at the Gamora Project. This work is being undertaken by Newcrest as operator under an earn-in agreement with Lundin Gold Inc. pursuant to which Newcrest can earn up to a 50% interest in eight exploration concessions.

Long NCM, III and LUG... will add to LUG on the dip here.  Bea

[Pete1986]

But why the heavy sell off? Share price was already pretty depressed and gold price is doing quite good.

[Pete1986]

Volume is way above average. So high volume and crashing share price is not a good sign. It seems like some investors just wanna get out, independenly what price they still get. 

[Beabaggage]

yes it did seem a little heavy, but there was a big selloff in several names.. I did add some at $US 7.60.  I consider it a long term holding.. while it is single mine now there is a lot of potential w big pocket's NCM as it's partner and both seem to have the favor of the government as well.  Good luck!  Bea

[Pete1986]

But LUG is one of the worst performer in the sector, there are lots of others which do quite good.  Nevertheless, LUG needs to do similar than GBR. They got nothing but drill holes and are worth almost as much as LUG. So either they finally sell the company or they find another way to grow. There are so many other producers out there which can be bought pretty cheap. For example, they could

[Pete1986]

Again a sell off. How low can it go? Soon we will see Corona lows.

[Pete1986]

Huge volume again. It seems like some bigger investors are getting out. Maybe the Lundins or Newcrest.