Mon, 14 December 2020
According to Marshall Koval (CEO) Ecuador mining was hit early by Covid-19. However, the interruption was short-lived, by May drilling had resumed and is continuing. Mining was deemed an essential industry, assuring that operations will move forward. Lumina/Luminex and its peers have established strong protocols to protect its workforce. And perhaps most importantly, they’ve been supporting their communities in many different capacities to help get them through this crisis. Lumina Gold - LuminaGold.com TSX: LUM - OTC: LUMIF Marshall informed us that the PEA update is completed. The economics have been substantially upped, making it a great acquisition target. Permitting work is continuing. Ross Beaty mentioned that the Lumina's strategy of execution by adding value and de-risking is has been well under way and a sale of the company is expected, at terms that will be highly advantageous to shareholders. In the interim, Beaty has provided a C$5 million financing to sustain operations. Shareholders' patience will likely yield large rewards. Luminex Resources - LuminexResources.com TX: LR OTC: LUMIF VP Corp. Dev. Scott Hicks indicated that significant the Company is moving quickly ahead. Drilling on 5 different potential projects will be taking place by both the Company and its joint venture partners. He's expecting a PEA on the Condor project, with needed engineering work proceeding apace. The other 4 projects are at different places in the process. Targets have been identified and they'll be vigorously pursued in 2021. All things considered, it looks like the coming year will be another one of major milestones for a group that has already accomplished so much. (Both companies are FSN Sponsors)
Direct download: Lumina_Scott__Marshall_and__Kerry_10.Dec.20.mp3
Category:general -- posted at: 8:00am EDT |
Mon, 14 December 2020
According to precious metals expert Ted Butler, $1950 on gold is the line of demarcation. That’s when the Technical Funds jump in with two feet and start buying up every available ounce. The banks are short and underwater by at least $10 billion. They either have to deliver the metals or buy back the position. $350 million ounces of silver is too tall an order to fill. The last thing they really want to do is a buy back, because that will light a fire under the market and drive it to all time highs. Either they keep it under control or they lose control. If they decide to buy back or run for cover, that could blow the lid off. They’ve been playing this dangerous game well for many years, so perhaps they can hold off a while longer. But eventually, something’s got to give. |
