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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (11068)	3/3/2015 9:12:46 AM
From: Goose94	Read Replies (1) of 203976

Lundin Group of Companies is back in the gold game. Paid $240-million (U.S.) -- including $100-million (U.S.) from Lukas Lundin's own family -- to Kinross Gold (K-T) for the Fruta del Norte (FDN) project in Ecuador last year, creating Lundin Gold (LUG-T). Kinross paid $1.2-billion (U.S.) for FDN in 2008, but decided not to build the mine after the government imposed a punitive windfall profits tax. The Ecuadorean government is about to make royalty regime changes beneficial to the FDN project. FDN is one of the largest and richest undeveloped gold projects in the world. It is capable of producing 500,000 to 600,000 ounces of gold per year at low cash costs. Overcome the political problems in Ecuador that felled Kinross. Before the purchase, the Lundin Group spent six months studying the project's political and environmental risks, and another six months negotiating with Kinross. The Lundin Group concluded that the Ecuadorean government is about to implement a more competitive and flat royalty structure for all miners there, which would make FDN feasible.

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