VANCOUVER, BC, Dec. 6, 2021 /CNW/ – Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the “Company” or “Lumina”) is pleased to announce the signing of an Exploration Investment Protection Agreement (“EIPA”) for the Cangrejos project (the “Project”). This groundbreaking agreement between the Government of Ecuador and Lumina Gold provides a foundation that the parties can build on as the Project advances towards development and a future negotiation of the Exploitation Agreement and Exploitation Investment Protection Agreement required for mining. This negotiation would occur after the completion of a Pre-Feasibility study for the Project.
The EIPA explicitly covers an investment commitment by Lumina totaling a minimum of US$36M for the period 2019-2024 and also covers investments by the Company in Ecuador from December 2010 to the end of 2018. The agreement also extends to any additional investments made by Lumina during the term and beyond. The Company has invested approximately US$18M from January 1, 2019 to September 30, 2021 in Ecuador and just completed a financing to continue work on drilling and engineering in order to complete a Pre-feasibility study by early 2023.
Image 1: Marshall Koval and Guillermo Lasso, President of Ecuador and key foreign investment ministers at the Ecuador Open For Business conference.
Image 2: Marshall Koval and Guillermo Lasso, President of Ecuador at the Open For Business conference.
Under the terms of the EIPA, the Government of Ecuador pledges to maintain legal certainty and stability for the investment, as well as to provide non-discriminatory treatment compared to other similar projects with regards to the administration, operation, expansion, and transfer of the Company’s investments. In addition, the Government commits that it will not subject the Company and its investments to arbitrary or discriminatory measures. The guarantee also extends to property rights, which bars any confiscation or other termination of rights without fair compensation, and also forbids restrictions on the legal transfer of the investment (e.g., the project or local holding companies) by the Company or its shareholders. The agreement also contains detailed procedures for dispute resolution, with arbitration in London pursuant to the rules of the International Chamber of Commerce.
The process of entering into this EIPA was greatly accelerated under the leadership of Guillermo Lasso´s administration, particularly following the issuance of Decree 151, which defined the national Mining Action Plan. It involved direct negotiations with the Ministry of Production, Foreign Commerce, Investments and Fishing. In addition, approvals were obtained from the Strategic Committee for Promotion and Attraction of Investments, as well as the Ministry of Energy and Non-Renewable Natural Resources, the Ministry of Economy and Finance, and, lastly the State Attorney General in relation to the approval of the international arbitration clause.
About Lumina Gold
Lumina Gold Corp. (TSXV: LUM) is a Vancouver, Canada based precious and base metals exploration and development company focused on the Cangrejos Gold-Copper Project located in El Oro Province, southwest Ecuador. Lumina has an experienced management team with a successful track record of advancing and monetizing exploration projects.
Further details are available on the Company’s website at https://luminagold.com/
Please click here and subscribe to receive future news releases: https://luminagold.com/contact
LUMINA GOLD CORP.
Signed: “Marshall Koval”
Marshall Koval, President & CEO, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to completing an Exploitation Agreement, Exploitation Investment Protection Agreement and a Pre-feasibility study. Often, but not always, forward-looking statements or information can be identified by the use of words such as “will” or “projected” or variations of those words or statements that certain actions, events or results “will”, “could”, “are proposed to”, “are planned to”, “are expected to” or “are anticipated to” be taken, occur or be achieved.
With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the prices of gold and copper, and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company’s continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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SOURCE Lumina Gold Corp.
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Cross-border investment surged in November – Investment Executive
The cross-border activity was concentrated on debt securities, with foreign investors adding $31.4 billion worth in the month, up from $20.4 billion the previous month.
StatsCan reported that investors targeted federal debt — adding $8.6 billion in bonds and $6.5 billion worth of money market securities — along with $9.8 billion in corporate debt.
Conversely, foreign investors trimmed $1.3 billion worth of Canadian equities in the month.
“The reduction reflected retirements of Canadian portfolio shares resulting from cross-border merger and acquisition activities. Foreign purchases of Canadian shares on the secondary market, led by shares of chartered banks, moderated the overall reduction,” StatsCan said.
At the same time, Canadian investors ramped up their buying of foreign securities in November.
In total, domestic investors added $17.5 billion in foreign securities, StatsCan reported. This was up from $5.4 billion in October.
Canadian investors jumped into U.S. stocks in November, buying $7.4 billion worth of equities, up from just $652 million in October. Large-cap tech stocks and index funds were the primary targets, StatsCan said.
Additionally, investors bought $4.0 billion worth of non-U.S. foreign shares in November, reversing a $2.5-billion divestment in October.
Canadian investors also added $6.1 billion in foreign debt, including $2.8 billion in U.S. corporate bonds and $1.6 billion in U.S. government bonds.
In a research note, National Bank Financial Inc. (NBF) said November’s $17.5-billion net investment means Canadian investors acquired $144.4 billion worth of foreign securities during the first 11 months of 2021.
“In dollar terms, you won’t find a prior [year-to-date] tally remotely close,” NBF said, noting that the previous record was $73.3 billion about 15 years ago.
Even with the record flow into foreign securities, net portfolio flows are still positive for Canada, as foreign buying of Canadian securities has been even stronger.
“An improved current account means Canada is less reliant on foreign inflows,” NBF said. “Still, the apparent abandonment of Canada by domestic investors is part of an overall capital bleed that needs redressing.”
4 Must-Have TFSA Stocks for Any Investment Goal – Yahoo Canada Finance
Written by Amy Legate-Wolfe at The Motley Fool Canada
If you have a Tax-Free Savings Account (TFSA), then you hopefully have an investment goal to go along with it. Now, we could drill down into specific savings goals, but, honestly, those goals change! What someone wants at 30 will be different at 50, and so on. First, it’s student debt, then a house, then a child, their education, and, of course, retirement.
Frankly, you shouldn’t have to juggle your investments every time you come up with a new goal. In fact, one of the main points of investing is to buy and hold for as long as you can. Sure, you can take out cash as your goals come in, but you should be able to hold onto them for as long as you want.
With that in mind, here are four TFSA stocks that will help you achieve any investment goal.
If you’re going to have long-term TFSA stocks, you need stable companies to get you there. That would definitely include Fortis (TSX:FTS)(NYSE:FTS). The utility company has been growing its dividend each year for almost 50 years. This comes from a stable business plan of growth through acquisition.
Investors have been flocking to Fortis as one of the TFSA stocks they want because of this stability — especially during the market pullback. The company is basically recession proof, providing gas and electric utilities to 3.4 million customers. You need the lights on no matter what, making it a strong choice for any investor.
Fortis shares are up 16% in the last year with a dividend yield of 3.63%.
The Big Six banks may be trading at all-time highs, but there’s a reason. And that reason is why they’re TFSA stocks for any investment goal. The banks managed to get out of the market drop relatively unscathed, and yet they still have so much cash on hand to make up for lost time. And that comes through solid dividend jumps.
But Toronto-Dominion Bank (TSX:TD)(NYSE:TD) has even more to offer. TD stock offers the most growth of the Big Six banks, with the most amount of credit card partnerships, growing online and United States presence, and the most loan options for solid revenue streams. And yet even after all this growth, TD stock still trades at just 13.42 times earnings.
TD stock is up 41% in the last year, with a dividend yield of 3.47%.
If you have the cash to invest, Constellation Software (TSX:CSU) is one of the few tech stocks that remains a stable investment. The company has been an acquisition powerhouse, identifying the software companies it believes will thrive with incredible expertise.
It’s those experts that have managed to keep the company growing at a stable clip, even as other tech stocks burn around it. Constellation shares have been steady as a rail, growing through venture funds and seeing revenue rise 30% year over year during the last quarter. It’s one of the TFSA stocks any investor should add as soon as possible before it rises even more.
Shares of Constellation are up 34% in the last year, and it recently boosted its dividend to offer a yield of 0.24%.
Finally, Nutrien (TSX:NTR)(NYSE:NTR) may be on the newer side, but don’t count this out among TFSA stocks. People need to eat, and Nutrien is now the world’s largest crop nutrient provider. As arable land decreases and climate change increases, Nutrien will be a necessity for any portfolio.
Nutrien continues to grow through acquisition. In the last few years, it has increased its digital presence at an incredible rate. This kept revenue coming in at an incredibly important time — for the company and farmers. Now, it’s nearing the three-digit mark and isn’t likely to come down.
Shares of Nutrien are up 37% in the last year, with a yield of 2.57% for investors.
Should you invest $1,000 in Air Canada right now?
Before you consider Air Canada, you may want to hear this.
Motley Fool Canadian Chief Investment Advisor, Iain Butler, and his Stock Advisor Canada team just revealed what they believe are the 10 best stocks for investors to buy right now… and Air Canada wasn’t one of them.
The online investing service they’ve run since 2013, Motley Fool Stock Advisor Canada, has beaten the stock market by over 3X. And right now, they think there are 10 stocks that are better buys.
Fool contributor Amy Legate-Wolfe owns TORONTO-DOMINION BANK. The Motley Fool recommends Constellation Software, FORTIS INC, and Nutrien Ltd.
Gulf Energy, Binance announce Thailand crypto partnership
Gulf Energy in a disclosure to the stock exchange said its agreement with Binance is a response to the rapid growth in digital asset infrastructure in Thailand.
Binance said it would set up the cryto exchange and related businesses in the country.
“Our goal is to work with government, regulators and innovative companies to develop the crypto and blockchain ecosystem in Thailand,” a Binance spokesperson said.
“The first step is to explore opportunities in an open and collaborative manner. ”
Last year, Binance received a criminal complaint from Thailand’s market regulator, the Securities and Exchange Commission (SEC) for operating a digital asset business without a license.
The Thai energy company has been diversifying into new areas and last year became the major shareholder of Intouch Holdings Pcl, owner of the country’s largest cellphone operator, Advanced Info Service PCL.
(Reporting by Panu Wongcha-um; Editing by Martin Petty)
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