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Lumina Gold ( (TSE:LUM) ) has shared an announcement.
Lumina Gold Corp. has announced that its securityholders have approved the acquisition by CMOC Singapore Pte. Ltd., a subsidiary of CMOC Group Limited. The approval was achieved with an overwhelming majority at a special meeting, and the arrangement is expected to close in late June, pending a final court order and other conditions. This acquisition marks a significant step for Lumina Gold, potentially enhancing its industry positioning and providing value to its stakeholders.
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 Vancouver-based exploration company focused on the Cangrejos project in southwest Ecuador, which is the largest primary gold deposit in the country. The company has a strong management team with a history of advancing and monetizing exploration projects.
Average Trading Volume: 864,511
Technical Sentiment Signal: Buy
Current Market Cap: C$522.9M
For an in-depth examination of LUM stock, go to TipRanks’ Overview page.