Ross Beaty has a habit of being in the right place at exactly the right time. In 2013 Beaty and his group perceived that in an effort to offset declining petroleum revenues, the Ecuadorian government was on the verge of liberalizing archaic mining laws and letting out extremely promising unexplored concessions.
In 2018, predecessor company Lumina Gold was awarded 32 mining concessions. 2019 was a milestone year, which saw large scale projects Fruta Del Norte and Mirador come on line.
The Company currently has 3 key assets and 2 world class partners: Condor which it is exploring iselft; and two separate earn-in agreements with BHP and Anglo American on its Tarqui, and Pegaus A&B concessions. Luminex also holds several other early-stage Ecuadorian exploration concessions.
In mining, management is always the key to increasing shareholder value. However, Luminex has something else that few if any mining concerns possess, long-term loyal committed management. CEO Marshall Koval and SVP of Exploration Leo Hathaway have been working together since 2004 on a number of the Lumina Group’s projects.
During this time, they’ve helped return over $1.6 billion to shareholders and judging from this interview they have many more successes ahead of them. It’s always a good idea to bet on the winners.
Company website: www.Luminexresources.com (Stock Ticker Symbols: TSX.V LR / OTC: LUMIF)
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