10:15:17 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Arena Minerals Inc
Symbol AN
Shares Issued 80,121,090
Close 2016-07-26 C$ 0.185
Market Cap C$ 14,822,402
Recent Sedar Documents

Lundin refreshes Arena Minerals buy

2016-07-26 20:49 ET - In the News

Brien Lundin, in the July, 2016, edition of the Gold Newsletter, refreshes his buy of Arena Minerals Inc., recently 25 cents. Mr. Lundin said buy in May, 2016, at 29 cents. A $1,000 investment then is now worth $862. Arena has agreed to transfer its option on the Pampas el Penon gold project in Chile to Rouge Resources. In exchange, Rouge will issue 8.65 million shares and assume all of Arena's outstanding commitments on the project. The commitments include making $750,000 in cash payments and spending $1.83-million on exploration by July 27, 2017. Because Arena will receive shares of Rouge, it will be able to participate indirectly in any success at Pampas El Pinon, and in the meantime, it can focus on its Atacama copper property, a joint venture in Chile's Antofagasta region. Mr. Lundin sees Arena as a "smart, contrarian bet on copper's long-term future." The stock remains a buy.

© 2024 Canjex Publishing Ltd. All rights reserved.