Lumina Gold

Primary ticker: TSXV:LUM
Stage of development: Development
Commodity: Gold, Copper
Project to promote: Cangrejos
Project location: Ecuador

Live financials

Lumina Gold is advancing and de-risking its Cangrejos gold-copper project in southwest Ecuador. Cangrejos has a 17Moz gold resource along with over 2Blbs of copper (80% gold / 20% copper). The 2018 PEA outlined a 16 year mine life with over 370koz of gold production per year and a US$920M NPV at US$1,300 gold. The company is currently working on an updated economic study to bring in the additional resources announced last November. This study will have a substantially longer mine life and will integrate numerous engineering and design improvements.

Management Profile

Marshall Koval, CEO

Experienced mining executive who has worked at all of the Lumina Group’s companies since the early 2000’s. Mr. Koval holds a BSc. in Geology from the University of Missouri and is a registered professional geologist. He is currently also on the board of Equinox Gold.

Scott Hicks, VP Corp. Dev.

10 years of investment banking experience at BMO and RBC. Has been with the Lumina Group since 2017. He is also the CEO of Strategic Resources.


Analyst Insight – provided by Independent Investment Research