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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (9860)	10/23/2014 9:48:38 AM
From: Goose94	Read Replies (1) of 203958

Lundin should be able to tackle Fruta del Norte Lukas Lundin should be able to tackle the Fruta del Norte (FDN) project. The Lundin Group has taken hold of many world-class projects at low cost and made a fortune for its shareholders. Mr. Koven says FDN fits the bill for Mr. Lundin perfectly. FDN is arguably the world's best undeveloped gold deposit, with 6.8 million ounces of very high-grade reserves. It is also in Ecuador, a country that has been inhospitable for mining investment and has scared away the rest of the gold sector. As a result, the asset was available at a bargain-basement price. "One of those things the Lundin family has done so well over so many years is [obtaining] great assets," says Ron Hochstein, chairman of Lundin shell company Fortress Minerals. "And also having the ability to work with governments and with the population to see them through." Fortress will be renamed Lundin Gold. Fortress plans to use FDN as the foundation to build a significant gold producer. To do so, it will have to manage Ecuadorian politics a lot better than Kinross did. Mr. Hochstein is confident this project will move forward quickly.

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