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Lundin Mining Corp T.LUN

Alternate Symbol(s):  LUNMF

Lundin Mining Corporation is a diversified Canadian base metals mining company. It has operations and projects in Argentina, Brazil, Chile, Portugal, Sweden and the United States of America, producing copper, zinc, gold and nickel. Its operations include Candelaria, Caserones, Chapada, Eagle, Josemaria Project, Neves-Corvo and Zinkgruvan. The Candelaria Copper Mining Complex comprises two adjacent copper mining operations, Candelaria and Ojos del Salado, that produce copper concentrates. Caserones is an open pit copper-molybdenum mine which produces copper concentrate, copper cathode and molybdenum concentrate. Chapada is an open pit copper-gold mine producing copper concentrate. Eagle is located in the Upper Peninsula of Michigan, United States, in Michigamme Township of Marquette County. Josemaria is a large-scale copper-gold-silver project. Neves-Corvo is a mainly copper and zinc mine producing copper, zinc and lead concentrates. Zinkgruvan mines underground from several orebodies.


TSX:LUN - Post by User

Bullboard Posts
Post by Coop007on Jul 08, 2020 10:25pm
315 Views
Post# 31243132

Gold is over 1800.00 believed to be heading higher

Gold is over 1800.00 believed to be heading higher

TORONTO, July 05, 2019 (GLOBE NEWSWIRE) -- YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or the “Company”) today announced it has completed the sale of its wholly-owned Chapada mine to Lundin Mining Corporation (TSX:LUN) (“Lundin”) for total consideration of over $1.0 billion.

Yamana has received the initial upfront cash consideration of $800 million on closing. In addition to the initial cash payment, consideration also includes a $100 million cash payment contingent on the development of a pyrite roaster at Chapada by Lundin, a two per cent net smelter return (“NSR”) royalty on the Suruca gold project in the Chapada complex, and a right to receive up to $125 million in additional cash consideration (“the Gold Price Instrument”) based on the price of gold over the five-year period from the date of closing as follows:

  1. $10 million per year for each year over the next five years where the gold price averages over $1,350 per ounce, up to a maximum cash payment of $50 million.
     
  2. An additional $10 million per year for each year over the next five years where the gold price averages over $1,400 per ounce, up to a maximum cash payment of $50 million.
     
  3. An additional $5 million per year for each year over the next five years where the gold price averages over $1,450 per ounce, up to a maximum cash payment of $25 million.

(All amounts are expressed in United States Dollars unless otherwise indicated.)

LUN was more than willing to give up to 125 million for the next 5 yrs total from july 2019 to 2024 for $100 plus ounce we are at plus $450 per ounce and climbing this is gold alone & this company is a copper mine, I have owned this share for a least 5+ years so very happy green, not sold 1 share not planing too, gold is going crazy but copper will king
Just my 2 cents GLTOL

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