Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, May 2, 2025

Article Excerpt

LUMINA GOLD CORP., $1.21, symbol LUM on Toronto Venture Exchange, owns 100% of the Cangrejos gold project in southwest Ecuador. Lumina believes it holds the 26th largest gold deposit in the world. Lumina Gold’s project is funded by a $300 million U.S. gold streaming deal with Wheaton Precious Metals (symbol WPM on Toronto). The Cangrejos zone in Ecuador was first discovered by Odin Mining, which produced 175,000 gold ounces in Ecuador during the 1990s. In 2011, exploration in the area started up again. The project consists of 6,374 hectares, located 40 kilometres from the port of Puerto Bolivar. The deposit could hold as much as 16.8 million ounces of gold. On April 21, 2025, Lumina announced it had agreed to be acquired by a subsidiary of CMOC Group Limited for $581 million, or $1.27 a share. CMOC is one of the world’s 50 largest mining companies by market cap. It produces copper, cobalt, and other minerals. Based in China, it has operations in Asia,…