Post by
Beabaggage on May 04, 2022 10:34am
Dividend to be paid!
LUG generating huge FCF, progress w Newcrest on new drills and in other areas on the concession.. looks like s/t/board approval they will be paying .20/sh.
Once NCM digests the Pretium buy- and if gold stays over 1800 and copper over 4, they will have huge FCF even w all the capex they are planning at Cadia, Red Chris, Havieron-- I think Newcrest could buy out LUG. Especially if the results of the new prospective drills in the Ecuador leases pan out.
Long a chunk here and NCM as well, would add to LUG on dips! Great results albeit w single mine risks but they seem to be doing really well.
Comment by
Beabaggage on May 04, 2022 10:37am
(edit// div looks like C$0.20/semi or .40/yr w a formula payout similar to other div paying miners.. Release says it will run about $100mil this year and they are sitting on over 300mil in cash now. Bea)
Comment by
Pete1986 on May 04, 2022 3:03pm
They are not talking about CAD but USD, so dividend will be .40 USD/year.
Comment by
Beabaggage on May 05, 2022 9:57am
thanx- oh good! own in US my basis is very low under $7 US so that is a nice yield w great prospects for LUG. Bea
Comment by
Pete1986 on May 05, 2022 10:06am
yep. But today down 5% without any news. Soon all the gains from yesterday are gone.