Lumina Copper Corp LCPRF

Lumina, Ross Beaty and Augusta Resource

[WorldofMining]

Blogged at WorldofMining.com about the Hudbay play for Augusta Resource's Rosemont copper project and compared it to Lumina Copper's Taca Taca. Turns out Ross Beaty owns 10% of Augusta:

There are many interesting things about Hudbay’s takeover offer for the 84% of Augusta Resource that it doesn’t already own – an offer that has breathed a bit more life into a moribund mining M&A scene that is slowly reviving. Augusta is developing the advanced-stage Rosemont copper deposit southeast of Tucson, Arizona, which is projected to be the third largest copper mine in the U.S. once it’s operating.

Probably the most interesting thing is this:

Ross Beaty is Augusta’s second-largest shareholder

Vancouver resource entrepreneur Ross Beaty is the second-largest shareholder of Augusta, with more than 9% of outstanding shares. He owns 12,200,500 shares indirectly through his Kestrel Holdings company, and 1,235,000 shares directly, according to our friends at INK Research. That’s a total of 13,435,500 shares, or 9.3% of outstanding shares, as well as 5 million convertible notes. According to SEDI records, Beaty filed opening balances for most of the shares on Oct. 25, when Augusta was trading at about $2.15. He picked up 100,000 more shares on Nov. 21 at $1.26, according to a Nov. 22 filing.

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[redmetal]

Give me a break. Ross average cost since the get go is $2.70 a share over 8 years. Not a great investment for the big boy. Do your homework.

[redmetal]

And by the way, A Prefeasibilty on LCC will not happen soon, because inflation in Argentina will put this project Capex over $4 billion and no one will touch it.