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Gold/Mining/Energy : Juniors News!
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From: canucklehead8011/15/2011 4:02:55 PM
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To The Moon—Or 300K Oz Annually

Luna Gold Plans to Upsize Brazil Production

By Ted Niles

Things seem to be coming together for Luna Gold Corp TSX:LGC. That might seem an odd thing to say about a company that’s been producing since February at its Aurizona Gold Mine, but success is not a static achievement. Bringing a mine to production only really marks the transition of a junior miner from adolescence to adulthood. Issues of liquidity, logistical strength and effective management require constant attention for success to burgeon. That’s why John Blake was appointed Luna President and CEO in September 2010.

“My job was to review the company, and I had full support from the board,” Blake says. “We had mechanical issues in the construction phase that have been repaired, and now we’re delivering our feasibility-study production. We’ve revamped our management team, and we’ve got a really strong operational team now to add to the strong team we already had in finance and exploration. We’ve recently recapitalized the company in terms of new project debt financing with WestLB, and we’ve raised equity in the market. So we’ve now got very solid capital structure to move the company forward. The next step is to increase our resource in December so we’ve got a solid platform for growth.”

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