Hey folks,
I wondered this week and last, why sometimes the volume rises significantly and then drops again. Maybe someone with more insights in the mining business could comment on the following "news". Does the net smelter share "for each concession" relate to the size or quality of the acquired rights and properties? Are these properties just as deposit sites of the burden (if so why buying concessions)? Lots of questions, thanks for your answers.
LUMINA COPPER CORP. ("LCC")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: September 14, 2012
TSX Venture Tier 1 Company
Further to our Bulletin dated March 30, 2012 TSX Venture Exchange previously accepted for filing a purchase agreement dated January 13, 2012 between Corriente Argentina S.A. a wholly owned subsidiary of Lumina Copper Corp. (the 'Company'), Silvia Rene Rodriguez , Gerardo Catelluccio, and Pacha Minerals ( Carlos Saravia Day and Silvia Rene Rodriguez ), whereby the Company will acquire a 100% interest in mineral concessions located in close proximity to its current Taca Taca property in Argentina. Pursuant to this same purchase agreement the remaining consideration for various outstanding concessions has now been accepted.
Total additional consideration accepted for these additional concessions consists of US$150,000 in cash payments and 1,890 shares of the Company.
In addition, there is a 1.5% net smelter return relating to each of these and the prior concessions. The Company may at any time purchase the full net smelter return for $1,000,000 per concession.