Luminex's ownership on its five mineral deposits rises to 98.7% from 90.0%
Luminex Resources increases Condor ownership stake. (Credit: Markus Distelrath from Pixabay)
Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) (the “Company” or “Luminex”) is pleased to announce the increase of its ownership interest on certain concessions within its Condor project.
Luminex’s move from 90.0% to 98.7% ownership resulted from capitalizing existing intercompany loans with its Condormining subsidiary.
The Condormining subsidiary directly or indirectly holds the Viche Congüime I, II, III; Chinapintza and Hitobo concessions. These concessions encompass Luminex’s Los Cuyes, Soledad, Enma and Camp, collectively “Condor North”, and Santa Barbara deposits.
The five deposits host 2.3 million ounces of contained indicated gold resources and 4.3 million ounces of contained inferred gold resources.
Source: Company Press Release