Luna Gold LGCUD

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

[perky38]

Luna Gold Corp. is a cash generating gold producer engaged in the operation and exploration of promising gold projects. Luna aims to maximize shareholder return while ensuring safe, healthy, and secure workplaces, minimizing environmental impact, and both engaging with and assisting in community development.

 

During 2013, Luna sustained positive cash generation and achieved record gold production of over 79,000 ounces while reducing cash costs and identified two major mineralized structures at the Touro Target. Luna’s primary asset is the Aurizona Gold Mine located in the north-east of Brazil.

A Preliminary Feasibility Study (PFS) is underway, targeted for release during second half 2014 and considers expanding average annual gold production to deliver between 200,000oz and 300,000oz upon completion.

In March 2013, Luna released an updated resource estimate for Aurizona of 3.63 million ounces (Moz) Measured & Indicated Resources and 1.04 Moz Inferred Resources, representing increases of 15% and 44% respectively from the December 2011 resource update. In April 2013, Luna announced an updated Piaba Deposit Proven & Probable Reserve of 2.36 million ounces, including 56 million tons (Mt) of ore with a mine life average of 1.32 grams per ton of gold (g/t Au), representing a 222% increase when compared to the July 2010 Reserve statement. Drilling programs conducted by Luna since 2007 have significantly extended the strike and depth extent to the original Piaba ore body and mineralization remains open along strike to the east and west and also at depth where interpreted high-grade plunging structures are being targeted.

 

 

[Exxontanker]

This stock is done. Gold in general is in a slump for the foreseeable future.  For a good long shot, have a look at MIN.V    Your call but to me it looks like a great prospect.

[benandemmiboo]

Obviously don't agree with you re: LGC ( the drilling press releases for the next 2 quarters will bring a return of enthusiasm/interest in this stock), but I do like your Excelsior recommendation. Don't think it's a long shot either; the feasability will improve upon the PEA and it will be built.  

[Exxontanker]

Yes,Excelsior looks promising. As for LGC, I dont see anything new from the drilling in terms of reserves. A dicky bird tells me that more employees have been laid off on site and only a skeleton staff remains.  The company is dying.

[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

[Exxontanker]

Good luck Ben. The layoffs I mentioned were very recent, in addition to those press released in February.  They are not reworking tailings but stockpiled low grade ore from the early months of operation. If it was tailings, it would not effect the tailings capacity since they would simply be recycled. In February it was noted that the dam had a capacity for an estimated further 5 months of