Luminex Resources (TSXV: LR, OTCQX: LUMIF) CEO Marshall Koval stated the increasing rate of gold assisted the business protected funding for a 10,200 meter drill program at the Condor job in Ecuador.
Over the last number of months, the rate of gold has actually gone up to more than US$ 2,000 per ounce and has actually pressed near to tape highs, stated Koval. “It truly assisted us. We had the ability to raise C$ 12.5 million in an actually down market back about 3 months earlier. So we have actually got financing for the next year ahead of us.”
In February, Luminex closed brokered and non-brokered personal positionings with gross earnings of roughly C$ 12.5 million In addition to moneying its drill program, Luminex plans to utilize the capital to upgrade the mineral resource quote for Condor.
Koval, who’s likewise on the board of Equinox Gold (TSX: EQX, NYSEAMERICAN: EQX), stated a continuing gold rate walking would benefit the resource market, and he intends to see junior designers and explorers go up like the majors and mid-tier manufacturers.
See the complete interview with Luminex Resources CEO Marshall Koval above.
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