Luna Gold LGCUD

RE:RE:RE:RE:Their website has not been updated in a while/looks promisin

[benandemmiboo]

The Luna stuff you mention is in all the press releases re: the Aurizona mine. They did close it, they did lay off many workers, and they are working through the tailings now (which should be completed soon).

The remainder of the financings (that closed in late June) -- after payment to their prior lenders -- is to do infill drilling and come up with a new pre-feasability for the project that takes into account their better understanding of the deposit.
Also stated in Winter 2015  press releases was that they had received offers on the mine, but that due diligence was required before any potential buyer would commit. The re-financing/Luna plan, to a large part, seems designed to spend 2015 accomplishing the objectives that satisfy potential buyers.

2016, if they have not been acquired, includes re-permitting of the project, and a new financing to account for the new items needed to expand/improve the mine design, etc. Then they will restart the mine in late 2016/early 2017, with first payments of any sort to their lenders/primary investors in 2018.

Company effectively demolished the shares of private investors with this "2015 reboot" of the company, and the analysts all said that the deal was designed to benefit the lenders. As the share price is now more than 25 percent below the lenders' deal, and as the lenders are the primary shareholders, and as the CEO made a 1 million share purchase in May (at 14 cents) with knowledge of the offers they received for Aurizona, it seems safe to believe the current share price will not stay this low forever. 

Most people have given up on Luna. No one deems it the Mickey Mantle of mines. I deem it a fairly certain double at current prices, with the possibilty of significant gains upon its likely sale.