Lumina Gold Corp Stock Price, News & Analysis

Lumina Gold Corp. (LMGDF) has received final court approval from the Supreme Court of British Columbia for its previously announced acquisition by CMOC Singapore Pte. Ltd. through its subsidiary 1536188 B.C. Ltd. The arrangement, initially announced on April 21, 2025, will result in CMOC acquiring all outstanding common shares of Lumina. The transaction is expected to close in late June 2025, pending final TSX Venture Exchange approval and satisfaction of remaining closing conditions outlined in the arrangement agreement.

Lumina Gold Corp. (LMGDF) announced that its securityholders have overwhelmingly approved the previously announced acquisition by CMOC Singapore Pte. Ltd., a subsidiary of CMOC Group Limited. The acquisition, structured as a plan of arrangement, received strong support with approximately 99.76% of shareholders, 99.78% of securityholders, and 99.73% of minority shareholders voting in favor. The arrangement required multiple approval thresholds, including two-thirds majority from both shareholders and securityholders, plus majority approval from minority shareholders under MI 61-101 requirements. The transaction is expected to close in late June 2025, subject to final court approval and satisfaction of other closing conditions specified in the April 21, 2025 arrangement agreement.

Lumina Gold (LMGDF) has announced the mailing of information circulars for a special meeting regarding its proposed arrangement with CMOC Singapore. The meeting is scheduled for June 16, 2025 at 10:00 AM in Vancouver. The arrangement offers shareholders a 71% premium to the 20-day volume-weighted average price and a 41% premium to the closing price. The deal includes a US$20 million interim financing for the Cangrejos project. The board unanimously recommends shareholders vote FOR the arrangement, which requires 66⅔% approval from shareholders and security holders, plus majority approval from minority shareholders. RBC Capital Markets provided a fairness opinion supporting the all-cash transaction. The deal is expected to close in late June 2025, subject to regulatory and court approvals.

Lumina Gold Corp (OTCQB: LMGDF) has successfully completed a private placement of US$20 million in unsecured convertible notes. The notes carry a 6.0% annual interest rate and are subject to a four-month hold period ending September 7, 2025, in compliance with Canadian securities regulations. The company highlighted that no securities were issued as bonuses, finder's fees, or commissions in connection with this private placement.

Lumina Gold Corp. (LMGDF) has announced a definitive agreement to be acquired by CMOC in an all-cash transaction valued at C$581 million. Under the agreement, CMOC will acquire all outstanding Lumina shares for C$1.27 per share, representing a 71% premium to Lumina's 20-day VWAP and 41% premium to the closing price as of April 17, 2025.

The transaction includes a concurrent US$20 million convertible note financing from CMOC with a 6.0% annual interest rate, convertible at C$1.00 per share. Shareholders representing 52.3% of Lumina shares have agreed to support the transaction. The deal is expected to close in Q3 2025, subject to shareholder approval and regulatory conditions.

The Cangrejos project, developed over 10 years from no defined resources to potentially becoming one of the largest gold projects globally, will transition to CMOC's ownership upon completion.

Lumina Gold Corp (OTCQB: LMGDF) has received the final installment of US$3.1 million from Wheaton Precious Metals International under their US$300 million precious metals purchase agreement (PMPA). This draw brings the total advanced amount to US$48 million, with US$252 million remaining to be advanced once construction conditions are met.

The PMPA has been amended to provide Lumina more flexibility for pre-construction acquisition transactions. Under the amendment, Lumina has until December 31, 2025, to utilize the final installment on qualifying transactions, with any unused portion to be returned to Wheaton.

Lumina Gold (LMGDF) has secured important power infrastructure approvals for its Cangrejos gold-copper project. On January 15, 2025, CELEC approved the definitive feasibility level designs for connecting to Ecuador's national grid, including two dedicated transformers at La Avanzada substation and a 20-kilometer 138 kV transmission line to the Project.

The Feasibility Study, led by Ausenco Engineering Canada ULC, is 92% complete and on track for Q2 2025 completion. Key completed components include updated mineral resource estimates, mine planning, process facility design, infrastructure engineering, metals marketing study, vendor quotes, and major equipment selection. The team is now finalizing capital and operating cost estimates.

The Environmental Impact Study (EIS) is progressing as planned, with submission to Ecuador's government expected in mid-2025. The company aims to receive its Environmental License for construction and operation by early 2026.

Lumina Gold (TSXV: LUM) (OTCQB: LMGDF) has secured an extension of its Exploration Investment Protection Agreement with the Government of Ecuador. The extension now covers investments from 2010 through 2024, protecting a total investment of US$79 million. This development follows recent achievements including a 25-year extension of the Los Cangrejos concession and completion of Exploitation Contract terms.

The company expects to execute the addendum to the agreement by public deed in the coming weeks and is working towards completing a Complimentary Investment Protection Agreement for the Cangrejos construction period (2025-2031). The ongoing Feasibility Study results are anticipated in Q2 2025.

Lumina Gold Corp. (TSXV: LUM) has announced its participation in an upcoming live virtual corporate update hosted by Red Cloud Financial Services. The webinar is scheduled for December 12th, 2024 at 11:00 ET. The event will include a live Q&A session moderated by Red Cloud, and a replay will be available to all registrants following the presentation. Shareholders and interested parties are invited to register for the event through Red Cloud's website.