Key Developments: Lumina Copper Corp (LCPRF.PK)
6.73USD
17 May 2013
$-0.29 (-4.13%)
$7.02
$6.95
$6.95
$6.73
400
4,158
$11.90
$6.73
Latest Key Developments (Source: Significant Developments)
Lumina Copper Corp Issues 20,000 Common Shares
Lumina Copper Corp announced that it has issued 20,000 common shares at a deemed price of $7.59, in consideration of certain services provided to the Company pursuant to a Services Compensation Agreement. Full Article
Lumina Copper Corp Announces Closing Of CAD23.75 Million Financing
Lumina Copper Corp announced that it has closed its previously announced non-brokered private placement of common shares for gross proceeds of CAD23,750,000. The Company issued a total of 2,500,000 common shares at a price of CAD9.50 per common share. The proceeds from the placement will be used to fund the Company's capital needs through late 2013, including $2.6 million to fund all remaining costs to complete a Preliminary Economic Assessment on a mining and milling operation at the Company's Taca Taca project, $12.4 million to repay loans outstanding to Lumina Capital Limited Partnership, and the remainder for general corporate purposes. Full Article
Cascadero Copper Corp's Salta Exploraciones S.A. Enters Exploration Agreement With Lumina Copper Corp's Corrientes Argentine S.A.
Cascadero Copper Corp's Salta Exploraciones S.A. (Salta) and Lumina Copper Corp's 100% owned Argentine subsidiary, Corrientes Argentine S.A. (Corrientes), have agreed to enter a Memorandum of Understanding (MOU) to conduct a 50/50 Joint Venture (JV) exploration program on the Francisco I and Francisco II properties in north western Argentina. The properties are, immediately adjacent to the west of Lumina's 1.7 billion tonne Taca Taca Cu-Mo-Au deposit. Funding is pro-rata between Corriente and Salta, which each hold a 50% interest Francisco I and Francisco II. Corrientes was appointed as program operator. Full Article
Lumina Copper Corp Announces Amendment To Loan From Lumina Capital Limited Partnership
Lumina Copper Corp announced that it has agreed with Lumina Capital Limited Partnership (LCLP) to increase the aggregate principal amount available under the loan from CAD10 million to CAD13 million. The loan accrues interest at a rate of 10% per annum and will be used for working capital and general corporate purposes. The loan cannot be converted into, exchanged for or otherwise modified to create any obligation on Lumina to issue, directly or indirectly, any equity or voting securities of Lumina or any subsidiary of Lumina, including with respect to the repayment of either principal or interest accruing in respect of the loan. As the loan is not convertible into equity or voting securities of Lumina, there will be no effect on the percentage of securities of Lumina held by LCLP as a result of the loan. Full Article
Lumina Copper Corp's Subsidiary Announces Acquisition Of Mineral Concession
Lumina Copper Corp announced that it has agreed to acquire, through its wholly-owned subsidiary, Corriente Argentina S.A., an additional mineral concession in Argentina in close proximity to its Taca Taca project from private individuals, in consideration for approximately $150,000 and the issuance of 1,917 common shares of the Company. The acquisition is expected to take place on or about September 17, 2012. Full Article
Lumina Copper Corp Announces Strategic Review Process
Lumina Copper Corp announced that its Board of Directors has initiated a strategic review process to consider a range of strategic alternatives that have presented themselves to the Company, with a view to enhancing shareholder value. Strategic alternatives may include, but are not limited to, the sale of all or a portion of the Company's assets, the outright sale of the Company, a merger or other business combination transaction involving a third party, a joint venture, as well as continued execution of the Company's existing business plan, or any combination thereof. A special committee (Special Committee), consisting of independent directors, Ross Cory, Donald Shumka, and John Wright, has been appointed to oversee the strategic review process. It is the Company's current intention not to disclose developments with respect to the strategic review process unless and until the Board of Directors has approved a specific transaction or otherwise determines that disclosure is necessary or appropriate. The Company cautions that there are no assurances or guarantees that the process will result in a transaction or, if a transaction is undertaken, as to the terms or timing of such transaction. Full Article
Lumina Copper Corp Announces Acquisitions Of Mineral Concessions
Lumina Copper Corp announced that it has acquired, through its wholly owned subsidiary, Corriente Argentina S.A., certain mineral concessions in Argentina in close proximity to its Taca Taca project from private individuals, in consideration for approximately USD2.1 million (of which approximately 25% was payable pursuant to the issuance of 42,169 common shares of the Company). Full Article
Lumina Copper Corp Announces Filing of Amended and Restated Financial Statements and Management's Discussion and Analysis
Lumina Copper Corp announced that it has filed amended and restated unaudited interim consolidated financial statements and related MD&A for the period ended June 30, 2011. During the preparation of Lumina Copper's consolidated financial statements for the year ended September 30, 2011, it was determined that income taxes relating to the spin-out of Lumina Royalty Corp. which were expensed through the consolidated statement of income, should have been recorded as a capital item through contributed surplus. As a result, Lumina Copper's net income for the three and nine months ended June 30, 2011 has increased by $2 million while contributed surplus decreased by the same amount. The income tax liability estimate was unchanged. Full Article
Lumina Copper Corp Announces Closing Of $30 Million Financing
Lumina Copper Corp announced that it has closed both its previously announced brokered and non-brokered private placements of common shares totaling gross proceeds of $30,000,000. The Company issued a total of 3,000,000 common shares at a price of $10.00 per common share. The brokered private placement was completed pursuant to an agreement with Raymond James Ltd. and a syndicate of underwriters, including Scotia Capital Inc., Canaccord Genuity Corp. and Laurentian Bank Securities Inc.. The Underwriters received a commission of 5% of the gross sales of the 1,500,000 common shares that were the subject of the brokered private placement. A 5% finder's fee was payable on a portion of the non-brokered private placement, but no finder's fee was payable in respect of the 1,002,500 common shares purchased by Lumina Capital Limited Partnership as part of the non-brokered placement. The net proceeds from the placements will be used to fund the ongoing exploration program at the Company's Taca Taca project, and for general corporate purposes. Full Article
Lumina Copper Corp Announces CDN$30 Million Financing
Lumina Copper Corp announced that it has entered into an agreement with Raymond James Ltd. pursuant to which Raymond James Ltd. and a syndicate of underwriters, including Scotia Capital Inc., Canaccord Genuity Corp. and Laurentian Bank Securities Inc. (collectively, the Underwriters) have agreed to buy on an underwritten private placement basis 1,500,000 common shares from the Company at a price of CDN$10.00 per common share (Brokered Placement). The Company also intends to issue, via a non-brokered private placement on the same terms as the Brokered Placement, up to 1,500,000 common shares (Non-Brokered Placement). It is currently contemplated that Lumina Capital Limited Partnership will purchase up to 1,000,000 common shares as part of the Non-Brokered Placement, and that insiders intend to participate for a portion of the Non-Brokered Placement. Finder's fees may be payable on a portion of the Non-Brokered Placement. Closing of the two placements is expected to occur on or about December 8, 2011. The closing of the two placements is not conditional on each other, and may occur separately. The net proceeds from the placements will be used to fund advancement of the Company's Taca Taca project, and for general corporate purposes. Full Article
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