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Lucky Minerals ( (TSE:LKY) ) has issued an update.
Lucky Minerals has provided a detailed update on its option agreement for the Prudhomme Property, outlining multiple extensions of the transaction’s outside date through late 2025 and confirming that all payment, work expenditure and remaining obligations remain in place. The company also reported that Fire Gold Resources transferred roughly 135 mineral claims to vendor Patricia Lafontaine, with non-core claims allowed to lapse, leaving Lafontaine as sole holder under the agreement.
To date, Lucky has made modest cash payments and completed initial work expenditures that count toward its cumulative exploration commitments, while remaining obligated to issue up to 7.5 million shares, pay $750,000 in cash and invest $4 million in exploration to fully acquire the property. The option terms also include substantial milestone payments tied to feasibility, board approval and commercial production, plus a 2% gross metal royalty with a partial buyback right, and the company is funding near-term work and balance sheet needs via a $1.08 million private placement, subject to regulatory approvals.
More about Lucky Minerals
Lucky Minerals Inc. is a Vancouver-based exploration and development company focused on large-scale mineral systems in proven mining districts with potential to host world-class deposits. The company targets early-stage properties with significant upside, aiming to advance them through exploration toward feasibility and potential commercial production.
Average Trading Volume: 12,970
Technical Sentiment Signal: Sell
Current Market Cap: C$1.01M
Find detailed analytics on LKY stock on TipRanks’ Stock Analysis page.