Topic: How To Invest

Q: What do you think about Lundin Gold as an investment, Pat? Thanks for your ongoing advice.

Article Excerpt

A: Lundin Gold, $8.73, symbol LUG on Toronto (Shares outstanding: 222.8 million; Market cap: $1.9 billion; www.lundingold.com), is headquartered in Vancouver and owns the Fruta del Norte gold project in southeast Ecuador. The company aims to begin commercial production at its newly completed Fruta del Norte mine in the second quarter of 2020. However, it did make its first shipment of concentrated gold ore and doré bars from Ecuador in December 2019. (A doré bar is a semi-pure alloy of gold and silver. It is usually created at the site of a mine and then transported to a refinery for further purification.) It shipped the eight containers of concentrate to a smelting facility in Harjavalta, Finland. The company shipped the first doré bars to a refinery in Switzerland. In December 2019, Lundin Gold’s two largest shareholders, Newcrest Mining and the Lundin family, each agreed to increase their interest in the company through the acquisition of shares held by Kinross Gold Corp. While…

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