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Lumina Gold ( (TSE:LUM) ) has issued an announcement.
Lumina Gold Corp. has announced the mailing of information circulars to its securityholders regarding a proposed arrangement with CMOC Singapore Pte. Ltd. and 1536188 B.C. Ltd. The arrangement, which has been unanimously recommended by Lumina’s board of directors, offers an immediate premium to shareholders and includes an all-cash offer providing certainty of value. The deal also includes interim financing of US$20 million for Lumina’s Cangrejos project, aiming to eliminate future risks and provide liquidity. The arrangement requires approval from securityholders and the Supreme Court of British Columbia.
The most recent analyst rating on (TSE:LUM) stock is a Buy with a C$1.20 price target. To see the full list of analyst forecasts on Lumina Gold stock, see the TSE:LUM Stock Forecast page.
Spark’s Take on TSE:LUM Stock
According to Spark, TipRanks’ AI Analyst, TSE:LUM is a Neutral.
Lumina Gold’s overall score is heavily impacted by poor financial performance, characterized by zero revenue and ongoing losses. Despite strong technical indicators and a positive acquisition announcement, the lack of profitability and high financial risk remain significant concerns.
To see Spark’s full report on TSE:LUM stock, click here.
More about Lumina Gold
Lumina Gold Corp. is a company operating in the mining industry, primarily focused on gold exploration and development. The company is known for its Cangrejos project and is listed on the TSX Venture Exchange and OTCQB.
Average Trading Volume: 774,337
Technical Sentiment Signal: Buy
Current Market Cap: C$502M
For a thorough assessment of LUM stock, go to TipRanks’ Stock Analysis page.